A lender has to trace your down payment over three months. In Saguenay, one large unexplained deposit blocks a file more surely than a modest down payment.
Where the money came from counts as much as how much there is. A lender has to trace the funds over about three months, and one big unexplained deposit stalls a file more reliably than a modest down payment. A gift has to be a real gift, with a letter saying it isn’t repayable.
Documents before comparison
Three months of statements for every account the money leaves, plus a paper trail for any unusual deposit. For a gift, the donor’s letter. For funds from abroad, proof of the transfer and of their origin. For the HBP or FHSA, the plan statements.
Required document
The document has to be current, legible and consistent with the rest of the file. A statement missing a page, or a name spelled differently than on your notice of assessment, and the Saguenay file goes back for clarification.
What gets verified
Names, dates, balances, where the money came from: all of it has to match from one document to the next. An unexplained deposit is the most common reason a file in Saguenay stalls at verification.
Differences to explain
An unusual amount, a missing page or two records that disagree will draw questions, so explain them up front. A gift, a bonus or a transfer between your own accounts is fine once it’s documented, in Saguenay like everywhere else.
Delivery deadline in Saguenay
The lender’s calendar, the insurer’s and the notary’s all have to line up. It’s nearly always the last link that delivers a confirmation after the condition has already expired.
To prepare
What to gather.
Document to replace
Available supporting records
Income consistency
Transaction history
Explanation letter
Lender documentation rules
Frequently asked
Can the file be reviewed remotely?+
Yes. Phone, email or video call, with documents sent online. We can meet in person if you’d rather, but most files get done without anyone driving anywhere.
Can a family gift be used as a down payment?+
Yes, with a letter from the donor confirming the money isn’t repayable. The gift itself blocks nothing. A large deposit you can’t trace over three months does.
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.
