Applications & Processing

Mortgage Documentation & Communication

Once you’ve started the mortgage pre-approval process, your lender or mortgage broker will need documentation to verify your income, assets, and financial stability. Gathering these early will help your application move forward smoothly and efficiently once you’re ready to purchase a home.

Required Documentation

Be prepared to provide copies of the following:

• Employment verification:
  • Recent pay stubs (usually the last two).
  • A letter of employment confirming your position, salary, and length of employment.
  • If you’re self-employed, the last two years of T1 General income tax returns and Notices of Assessment from the Canada Revenue Agency (CRA).
• Income and assets:
  • The last three months of bank statements showing your savings and down payment funds.
  • Investment or RRSP statements (if using those funds for your down payment).
  • Proof of additional income (rental income, spousal support, dividends, etc.).
• Debts and liabilities:
  • Most recent credit card and loan statements (car loans, student loans, lines of credit, etc.).
• Identification:
  • A valid government-issued photo ID such as a driver’s licence or passport.
  • If you’re a non-resident or new to Canada, lenders may also require a copy of your work permit or permanent resident card.
• Existing property details:
  • For homeowners, copies of existing mortgage statements or property tax bills may also be requested.

Having these documents organized ahead of time helps lenders confirm your income stability, savings history, and ability to manage debt — three key components in mortgage approval.

Staying in Communication

Once your file is submitted, your lender’s underwriting team will review your financial information to ensure you meet all qualification criteria. This process may include additional verification or follow-up questions, especially once you’ve made an offer on a property. To keep your mortgage approval on track:

• Respond quickly to any requests for additional information.
• Stay in touch with your mortgage broker for updates.
• Avoid making major financial changes (like new credit or large purchases) until your mortgage has been finalized.

Timely communication helps avoid delays and ensures your financing process remains smooth and stress-free. Michael and his team work closely with experienced lenders and mortgage professionals across the Greater Toronto Area to ensure your mortgage process is seamless from start to finish. If you’d like an introduction to one of our trusted partners, we’d be happy to connect you.