Mortgage pre-approval: the documents you need
A pre-approval tells you your price range and holds a rate for a period. Having documents ready makes it quick.
Everyone
- Government photo ID
- Proof of down payment: 90 days of bank statements for the accounts holding it
- Gift letter if family is helping, plus proof the funds are in your account
- List of debts: car loans, lines of credit, student loans, support payments
Salaried employees
- Employment letter: position, salary, start date, full-time or part-time
- Recent pay stubs
- Recent T4s or Notices of Assessment
Self-employed
- Two years of Notices of Assessment and T1 Generals
- Business registration or articles of incorporation
- Financial statements if incorporated
New to Canada
- Work permit or PR card
- Employment letter and pay stubs
- Proof of credit history from your home country or alternative references, depending on the lender
Remember
A pre-approval is not a final approval. The lender still reviews the property and your file before funding. For pre-construction, you will be approved again near closing. See mortgages for pre-construction.
Book a call and Dinesh will connect you with a mortgage professional.
What does this mean for you?
Book a free 15-minute call and Dinesh will walk you through how it affects your plans.
