SMG-requireddocs

We understand that preparing documents for your mortgage application can leave you lost and frustrated in piles of files. With that in mind, we have created the list below which simply and clearly outlines exactly which documents you will need to provide us with.

1. Income: 

  • Salaried/Full Time Employee
    • Letter of Employment on company letterhead signed and dated confirming wage, employment tenure, and position. If applicable, overtime, bonuses, pending increases or car allowances should be documented
    • 2 recent pay stubs
  • Self Employed
    • Most recent 2 years T1 Generals
    • Most recent 2 years Notice of Assessments
    • Most recent 2 years Company Financials
  • Commission, Bonus or Part Time Income
    • Letter of Employment
    • 2 recent pay stubs
    • Most recent 2 years T4’s
  • Pension Income
    • Most recent 2 years T1 Generals
    • Most recent 2 years Notice of Assessments
  • Spousal/Child Support
    • Copy of Separation Agreement
  • Maternity Leave
    • Letter of Employment must stated guaranteed return to work date
    • Proof of EI Deposits via bank statements

2. Down Payment/Closing Costs: 

  • Own Resources: 
    • 90 day history of the funds (savings account, chequings account, investment account, RRSP account, TFSA account, etc) including name of account holder(s) and account number
  • Down Payment from Sale of a Home: 
    • Firm Sale Agreement
    • Statement of adjustments from sale
    • Proof of funds deposited in account
    • Recent mortgage statement
  • Gift from Relative
    • Gift Letter filled out
  • Closing Costs
    • Need to show 1.5% of the Purchase Price from own resources

3. Subject Property (Typically we can get these documents from your Realtor) 

  • Copy of Signed Accepted Offer
  • MLS Listing
  • Property Disclosure Statement
  • Strata Docs (if applicable) 
    • Form B

4. Other Properties

  • Recent mortgage statement
  • BC Property Tax Assessment
  • Tenancy Agreement (if applicable)