In the past, we required the following to commence a file:
- Signed Application
- Photo ID
- Preliminary form of income validation (paystub if salaried or previous year NOA if self-employed)
Since January 1, 2018, the new government imposed mortgage rules requires us to collect more documents up front:
- Signed Application
- Photo ID
- Salary Letter from Employer
- Recent paystub (within 30 days of application)
- Previous years T4
- Last two years Notice of Assessments from CRA if Self Employed
- Last two years T1 General filed with CRA if Self Employed
- Articles of Incorporation or Business License if Self Employed
- 6-12 months Business Bank Statements if Self Employed to validate active business activity
- 2-4 actual invoices to match deposits in bank Statements
- Property Tax Statement if existing homeowner
- Current Mortgage Statement if existing homeowner
However, required documents vary from case to case. Please chat with us so we can do the heavy lifting for you.