A lender approves the building as much as the borrower. Type, condition and intended use decide who can take the file. Sometimes that happens before anyone even looks at your income.
Show the property clearly
Pull together what actually describes it: leases if there are any, taxes, condition reports, title records. A well-documented building moves faster than one where the lender has to guess.
Look at the whole budget
The mortgage payment is only one piece. Municipal and school taxes, insurance, heating and upkeep pile on top. And many lenders want a cushion left in your account after closing.
Documents to gather
What the lender will ask for.
How the property will be used
Type of building
Appraisal and comparables
Income or leases
Down payment or equity
Lenders that qualify
Frequently asked
What documents do I need to pull together?+
Your last two notices of assessment, recent pay stubs, an employment letter, three months of bank statements and proof of your down payment. Add the certificate of co-ownership and the syndicate’s financial statements. Have them ready before you make an offer, or a short financing window becomes unrealistic.
Current rates
Today’s rates, with the fine print.
These rates are indicative. Yours depends on your file, the type of mortgage (insured or not) and the lender. And look at the penalty too, it matters as much as the number.
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.
