Home Financing Checklist

If you're thinking of purchasing a new home or refinancing or transferring your mortgage on your existing home, finalizing the paperwork is one of the last steps you take toward completing your home financing. Arriving prepared with all the documentation you need will make the process quick and easy!

What information to bring about your current property: Recent mortgage statement most recent property tax bill/statement Legal description of Property: You can find this on: Original Purchase Agreement Property Tax Statement Property Value - to help estimate your property value, refer to: Recent Property Tax Assessment and/or Neighbourhood sales comparables (MLS listings) Some of the common questions that you may asked to complete your mortgage application: What current assets or savings do you have? What current liabilities do you have? (Credit bureaus will ensure payments and balances are recorded but it's good for you to know to verify accuracy .) Specific questions about the property:   How much are the annual property taxes and heating costs? If the property is an condominium, what fees are associated with the corporation? What is the total square footage of your home? What is the total square footage of the land? Other Documents/Information Required Income Confirmation: If salaried or hourly employment (full time or regular part-time) - provide one of the following: A letter from your employer on Company Letterhead which includes your name, salary or hourly pay rate and name and title of person signing the letter. Current pay stub If self-employed or on contract, and/or you wish to include bonuses, overtime, gratuities or profit sharing, provide your last two years Notice of Assessments (NOA) from Canada Revenue Agency.   Let us be your guides!  If your income source is something other than mentioned above, please give us a call for more information on the type of income confirmation required.