Sometimes the documents to bring with you to your pre-approval seem obvious, T3 statements, tax returns, drivers license etc but there are some things that might not be so obvious. Leann Scarlett from Universal Mortgage gives us some insight about the things that might get over looked:
If you are considering buying a home, the first step in the process is finding out what type of mortgage you would qualify for. A few items that you should get organized in order to get pre-approved are as follows: -Income documents: this would include your last two years tax returns and the accompanying Revenue Canada Notice of Assessments (with confirmation your income tax is paid up to date). Your most recent two pay stubs (a letter of employment is required but not necessary at your first appointment)-Down Payment: a 90 day history of the account your down payment is coming from. If you are considering getting a financial gift from an immediate family member it would be a good idea to start the dialogue with them as well so they are prepared to send the funds to you once you make an offer on a home. -If you are divorced or pay child support/alimony your separation/divorce agreement will need to be provided as well as the maintenance enforcement account history if applicable -Are you currently a home owner? If so I will need your current mortgage statement and your property tax statement showing how much your property tax’s are and that they are paid in full.