Lenders follow your tax documents, not what lands in your account. If the income never appears on a notice of assessment, it can’t be counted, no matter how regular.
Match the lender to your proof
Variable, self-employed, commission: no two lenders treat them alike. Some average two years, others take the weaker one. That decides your amount far more than the rate.
A thin file gets turned down
Incomplete files get declined when a complete one would have passed. Sort the documents before you submit, so the lender isn’t left filling gaps with assumptions.
Documents to gather
What the lender will ask for.
What the file is meant to achieve
Income and documents
Debts and credit
Property or security
Timing
Lender options
Frequently asked
Which 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.
