How To Prepare For A Mortgage | Michael Friedman
How To Prepare For A Mortgage

How To Prepare For A Mortgage

Immediate or Future Planning

Whether you’re ready to buy a property now or planning for homeownership in the future, I can help you prepare for your purchase.

Your creditworthiness plays an essential part in the mortgage process and can, ultimately, determine whether you qualify for the very best products and rates. And your down payment is another crucial consideration. It’s my pleasure to walk you through each step of the home buying and mortgage processes, so you have a clear vision of what you need to do to qualify for the very best mortgage available.

Following are lists of income verification and down payment documents you may be asked to provide:

Income Type Documents

Employed Commission Based Self Employed Rental Income Pension Income Alimony & Support Payments
Employment Letter
2 Recent Paystubs
T4s (last 2 years)
T4As (last 2 years)
2 Years T1 Generals
2 Years Notice of Assessments
Tenant Lease(s)
Separation Agreement

Down Payment Source Documents

Bank Statements GICs Gift Sale of Property
90 Days Statements. Statements must show your name, account number, and institution Must show your name and institution. Gift Letter Signed
Some lenders may also require proof of the gift source via statements
Sales Agreement
Recent Mortgage Statement
If Sale Completed, also include Statement of Adjustments