Nayab, a seasoned mortgage agent with over a decade of experience, specializes in making homeownership a reality for Canadians, even in tough times. Her comprehensive background with the Royal Bank of Canada has refined her skills in home equity, investments, and credit solutions, enabling her to provide personalized financial advice. Read More
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Streamline Your Mortgage Journey: Align Your Documents and Check Off Your Checklist with Ease.
Two recent pay stubs (within 30 days)
Job letter on company letterhead (within 30 days)
If your income varies:
For self-employed:
Down Payment Checklist:
Personal Savings:
Provide 90 days of bank statements from savings, chequing, TFSA, RRSP, etc., showing gradual accumulation of funds.
Gifted Down Payment:
Include bank statements evidencing deposit of gifted funds into your account.
Obtain a signed gift letter from the donor confirming the funds are a gift, not a loan.
Sale of Another Property:
Submit a copy of the final sale agreement for the sold property.
Provide a recent mortgage statement for the sold property.
Include a Trust Ledger from your lawyer confirming the transaction.
Secured Line of Credit (sLOC) or HELOC:
Provide a copy of the line of credit statement or online account screenshot showing withdrawn funds.
Deposit for Property Offer:
Ensure all documents display your name, account number, and dates. Gifted funds typically come from parents, siblings, or grandparents. Funds from others may be seen as borrowed, affecting qualification.”
MLS Listing Details
Submit the fully signed Agreement of Purchase and Sale (APS) by all parties involved. For APS with conditions (finance, inspection, etc.), provide the Notice of Fulfillment for each once met. Ensure legibility and complete documentation before submission.
Provide a photo/scan of a physical cheque marked ‘VOID’ or an online banking Pre-Authorized Debit (PAD) form. Ensure it includes account details for mortgage payment deductions.
Submit copies of TWO valid pieces of personal identification. Acceptable IDs include: Ontario Driver’s License, Canadian passport, Permanent Residency card, Canadian Citizenship card, or other government-issued photo ID (Health card not accepted).
Two recent pay stubs (within 30 days)
Job letter on company letterhead (within 30 days)
If your income varies:
For self-employed:
Ensure documents display your name, property address, mortgage balance/original amount, and monthly payment. Online screenshots are acceptable if they include all required information.
Provide the most recent property tax statement and/or proof of tax payment. This ensures compliance with property tax obligations and facilitates the mortgage process.
You may submit a copy of your latest homeowner’s insurance statement or the insurance policy itself. This ensures coverage for the property during the mortgage process.
Provide a photo/scan of a physical cheque marked ‘VOID’ or an online banking Pre-Authorized Debit (PAD) form. Ensure it includes account details for mortgage payment deductions.
Submit copies of TWO valid pieces of personal identification. Acceptable IDs include: Ontario Driver’s License, Canadian passport, Permanent Residency card, Canadian Citizenship card, or other government-issued photo ID (Health card not accepted).
Two recent pay stubs (within 30 days)
Job letter on company letterhead (within 30 days)
If your income varies:
For self-employed:
Ensure documents display your name, property address, mortgage balance/original amount, and monthly payment. Online screenshots are acceptable if they include all required information.
Provide the most recent property tax statement and/or proof of tax payment. This ensures compliance with property tax obligations and facilitates the mortgage process.
You may submit a copy of your latest homeowner’s insurance statement or the insurance policy itself. This ensures coverage for the property during the mortgage process.
Provide a photo/scan of a physical cheque marked ‘VOID’ or an online banking Pre-Authorized Debit (PAD) form. Ensure it includes account details for mortgage payment deductions.
Submit copies of TWO valid pieces of personal identification. Acceptable IDs include: Ontario Driver’s License, Canadian passport, Permanent Residency card, Canadian Citizenship card, or other government-issued photo ID (Health card not accepted).
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