Toronto Mortgage Checklist

The Mortgage Checklist to Assist with Approval

Having all your documents ready during the mortgage approval process makes everything less stressful.

Here’s a checklist to assist when applying for a mortgage:

• Bring a copy of the accepted Offer To Purchase and the land survey.

• Get a salary letter from your employer.

• Self-employed individuals need financial statements for the past three years as well as personal income tax returns.

• Obtain confirmation that your down payment came from your resources (i.e. bank statements or a gift letter).

• Create a list of all your assets and debts along with account numbers.

• A copy of the Real Estate Listing if buying an existing home.

• Condominium financial statements, if applicable.

Mortgage Pre-Approval Checklist

We always advise our clients to seek pre-approval before they start their house hunt.

Here is what you will require:

• Social security number

• Proof of employment

• Proof of income

• Tax documents

• Place of Residence

• Bank account information

• Credit information

• Purchase agreement

• Gift letters

• Monthly expenses

• Self-employment documents

How to Apply for a Mortgage

There are several steps to the mortgage application process, including:

• Pre-Approval: We will review your financial situation so we can decide if you are qualified for a loan and how much that loan will be.

• Underwriting: Our underwriter will review your application along with your other documents to ensure you and the property meet the requirements for a mortgage.

• Conditional Approval: If we need a bit more information, we might offer conditional approval until we can confirm the application.

• Closing Day: The mortgage process is complete and you can finish up the closing of your purchase.

Let our mortgage experts help you with your application today.