Number of documents required for a mortgage application varies depending upon purpose and type of mortgage. Also the broker is supposed to prepare a set of documents which are generally referred to as - "Borrowers Disclosure" and "Lenders Disclosure".
The document list given below are the usual requirement for any mortgage. The lender may ask for less or more documents depending various factors.
- Proof of Identity
- Income Documentations
- T4 slip from employer
- T1 general and NOA or Notice Of Assessment (for self employed)
- Pay Stub
- Names and address of past employers
- Job Letter
- Financial statements
- Business License
- Property Documents
- MLS listing
- Agreement of Purchase and sale
- Confirmations of Down Payment
- Bank Statements
- Gift Letter
- Agreement of Purchase and sale for existing property
- Existing mortgage statement
- Other Documents
- Certificate of Independent Legal Advice
- Property Assessment
- Existing mortgage statement
- Tax Bill
- Void Cheque
- Condominium Status Certificate
- Proof of Homeowners Insurance
- Proof of child support payment
- Insurance documents
- Creditor insurance application (e.g. Life Coverage)
- Court documents for past bankruptcy or consumer proposal
