We strongly suggest submitting all of the required documents to your broker for review prior to writing any offers. If there are any issues, you want to find them before the subject removal stage.
Requirements for employed applicants: - Pay stub (must have YTD) - Job letter (must be dated on company letter head, signed by your employer with a contact number, and state your position and income) - 2 years' NOAs (notice of assessments). This document is not generally requested for employed applicants but if requested by the lender, you must be able to provide it
Requirements for self-employed applicants: - 2 years T1's (T1 Generals with statement of business activities) - 2 years NOA's (notice of assessments) - 2 years Business licenses or articles of incorporation - There can be no outstanding taxes for self-employed clients
Required from all applicants: - 90 day history of down payment (must have your name on statement) - Gift letter with history of where the funds came from (if applicable) - VOID Cheque - from any account you want the mortgage payments to come from - Government issued photo ID - Bank statements showing 1.5% of the purchase price for closing costs