A lender trusts your tax documents, not your day-to-day earnings. Income that never lands on a notice of assessment can’t be counted, however regular it is.
Choose the lender by the proof you have
Variable, self-employed, commission: lenders treat them differently. Some average two years, some take the weaker one. That difference sets the amount far more than the rate does.
Avoid a file that invites a no
Incomplete files get declined when a complete one would have passed. Sort your documents before you submit. Otherwise the lender fills the gaps with assumptions.
Documents to gather
What the lender will ask for.
Aim of the file
Income and documents
Debts and credit
Property or security
Target timeline
Lender options
Frequently asked
What documents should I gather?+
Your last two notices of assessment, recent pay stubs, an employment letter, three months of bank statements and proof of your down payment. Ready before the offer, they make a five-day financing condition workable. Gathered after, they cost you weeks.
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.
