Purchase
- ID for all applicants (Drivers license and/or Passport and/or PR Card)
- Completed Mortgage Application – signed by all applicants
- Privacy Agreement
- Agreement of Purchase and Sale of subject property and all schedules/waivers
- Realtor Listing Sheet
- Verification of Income:
- Last 2 years NOA’s
- Last 2 years FULL T1 Generals with statement of business activities
- Last 2 years financial statements (if applicable)
- Business license/Articles of Incorporation (if available)
- GST Return (if applicable)
- Solicitor’s Full Contact Details
- Void Cheque and/or PAD Form
- Verification of Down payment (90 days history required) and closing costs (1.5% of purchase price) may be from many sources including:
- Savings/Chequing accounts
- RRSP account (Withholding tax may be considered)
- Gifted Down payment – Gift Letter completed
- Sale agreement of existing home/cottage/other property
- GIC statements
Refinance/Renewal
- ID for all applicants (Drivers license and/or Passport and/or PR Card)
- Completed Mortgage Application – signed by all applicants
- Privacy Agreement
- Original Purchase details (date/purchase price/mortgage amount)
- Verification of Income:
- Last 2 years NOA’s
- Last 2 years FULL T1 Generals with statement of business activities
- Last 2 years financial statements (if applicable)
- Business license/Articles of Incorporation (if available)
- GST Return (if applicable)
- Current Mortgage Balance/Renewal offer
- Property tax Statement
- Solicitor’s Full Contact Details
- Void Cheque and/or PAD Form
Written By:
Kelly MioBertolo,
Mortgage Agent Level 2
Mortgage Alliance
