Documents for mortgage approval

There are a few mortgage documents you need for your application!

Check out the video to find out what mortgage documents you need.

Don’t feel like watching? Read the video transcript below.

Transcript:

” Knowing what you need to bring in for your mortgage applications sometimes can be the biggest stumbling block. Mortgage approvals are consist of credit, income, and down payment confirmation. For credit confirmation, we would meet with you in the office and we’ll review your credit score, your credit bureau, and the items that are on the report. For income, we require you to bring documentation to prove your income by way of a pay stub, T4s, and potentially a job letter. If you self-employ we require you to provide confirmation of two or three years of your employment. Typically, we would take a two-year average.

Depending on your down payment you may be required as little as a 5% down payment or 20% down payment you still need to prove where the down payment comes from. Additionally, if you receive a down payment from a gifted source. Typically, we would get a gift letter from the gift earner and we get confirmation that the gifted funds are deposited into your account. Furthermore, if you have questions about credit, down payment, or income confirmation feel free to give us a shout.”

Furthermore, If you have more questions about mortgage documents? Feel free to contact us!