Canadian Mortgage Document Checklist

One of the most common questions that we get is 'What paperwork do I need?'. After reviewing thousands of applications, we have a assembled a list of the most common and frequently required documents that assist us in presenting your application to a lender who truly understand you and your unique situation. Ultimately, the more prepared you are, the better position we are to get the best rates and products available for you.

It is an exciting time to be involved in real estate in Calgary, Alberta and Canada. Our goal is to make the wealth building/housing buying process educational and enjoyable to assist you to achieve your goals. MBN Mortgage is with you along the way with strategies and solutions that fit your unique and specific needs.

Following receipt of your application, you will receive a call from one of our talented team to complete your application and determine what documentation is required. With paperwork and a complete application in hand, we will determine a mortgage strategy which meets your goals and needs.

Please use the following as a guide for the types of documents we may require to complete your mortgage application (if applicable to your situation). Your MBN Mortgage Specialist can clarify for your specific application requirements. There are often much fewer documentation requirements- but, there are times when we may require any of the following. Understand that when we are requesting documentation, we are using it to strengthen an application to assist in qualification, to improve pricing, or to meet specific terms and conditions of a mortgage.

Common Documents for all applications:

• Income Tax Notice of Assessments (NOA) for the last two years (the document the government provides you after you file your Personal Income Taxes)
• Proof of Down Payment such as: Three months worth of statements confirming any assets you may have (Stocks, Bonds, Savings, RSPs, etc). Please ensure these statements contain your name, account information, and current balances.
• Copy of a Current Mortgage Statement (for refinances or sale or your current home). This must contain your name, account information, current balance, payment amount and frequency, and interest rate information)
• Statements confirming any debts you may have (car loans, student loans, etc.)
• Copy of a Pre-Printed Void Cheque for the Account you would like your mortgage payments to be withdrawn from
• Lawyer Information (Firm Name, Lawyer Name, and Full Contact Information). If you currently do not have a lawyer, one can be recommended to you.

For a T4 Employee:

• Copy of your most recent 2 years T4 from your employer
• Pay stub(s) for the last 30 days
• Employment Letter Confirming Your Position, Start Date, Salary Information, and it must be signed and dated on Company Letterhead

For a Commissioned Employee:

• Copy of your most recent 2 years T4A from your employer
• Employment Letter confirming your position, start date, salary information, signed and dated on company letterhead

Documentation For A Self-Employed Individual:

• Year-to-date profit and loss statement and balance sheet prepared and signed by an accountant
• Signed tax returns for the last two reporting years (business and personal).
• Two most recent years Notice of Assessment (the document the government provides you after you file your Income Taxes)
• Business License
• Articles of Incorporation
• GST registration #
• Previous two years T1 Generals, including the Statement of Business Activities

Documentation for Investors:

• Copy of any and all lease agreements and summary of rents (rent rolls)
• Copy of current mortgage statements
• Information pertaining to mortgage insurers (CMHC, Genworth, AIG)