Required Documents To Secure Your Mortgage

Providing the required mortgage documents early in the application process will ensure a dependable pre-approval, and ensure a smooth closing of your mortgage. Altrua accepts documents electronically over email or fax to save time and resources. If you need explanation of documents for Refinance/Renewal you can click the item under New Mortgage purchase for more information.

Property Purchase Documents

AND one the following, depending on income type:

If Salaried Pay: One recent pay stub, and last years T4 Statement from your employer.

If Guaranteed Minimum Hours: One recent pay stub, and last years T4 Statement from your employer.

If Non- Guaranteed Minimum Hours: One recent pay stub and last 2 years of T4 slips and Notice of Assessments to average income.

If Self Employed Income: Last 2 years of T1 General Tax forms and Notice of Assessment tax returns.

From a bank account: Lenders will need to see 3 months history of the money saved in the account. If there have been any large or abnormal deposits in to the account during those 3 months, a three month history of that secondary depositing account is also required, and so on.

Gifted Down Payment: A gifting letter will be provided. Account information or history of the person gifting the money is usually NOT REQUIRED. Gift must be from an immediate family member. We will need to show 3 months history of your account that the gifted money has been deposited into.

RRSP or Non RRSP Investment: Investment account statement or screenshot is required. You do not have to remove the money from your investment at this time unless close is nearing.

When refinancing your mortgage you should have these documentations readily available.

1. Employment letter and recent pay stub. If self employed then last 2 years tax returns.
2. Existing Mortgage Statement – The most recent statement available.
3. Proof of Property Taxes paid – With recent City Tax bill or statement.
4. Lawyers Contact Information.

When renewing your existing mortgage you should have these documentations readily available.

1. Employment letter and recent pay stub. If self employed then last 2 years tax returns.
2. Existing Mortgage Statement – The most recent statement available.
3. Proof of Property Taxes paid – With recent City Tax bill or statement.

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