First Time Buyers understand the implications of their mortgage.  According to a recent CMHC survey, First Time Buyers are keen to educate themselves about mortgage before setting out  to buy their first homeand 90% of them feel they understand.

Home Mortgage Calculators FAQs Preapprovals - What Documentation is Required?

Preapprovals - What Documentation is Required?

Pre-approvals Made Easy!

If you are applying for a pre-approved mortgage, prepare the following information:

  • Have your employer give you a letter on company letterhead outlining your name, position, gross annual income, and number of years employed with the company.
  • If you are self-employed, you will need three years financial statements, and tax returns (together with official assessment from Revenue Canada).
  • Social Insurance Numbers.
  • At least 3 years history of residences and employers.
  • Know your banking information (i.e. institutions name, address, type of accounts, account numbers)
  • Know your assets and their value (i.e. cash amounts, stocks, bonds, RRSPs, car).
  • Know your liabilities (i.e. car loan, credit card balances).
  • Also, be sure and advise us about any past credit problems you may have had.
  • Finally, write down a list of questions you would like to have answered.

apply now

If you have all the items ready when you apply you should have no problem getting your Pre-approval!

 

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