The lender approves the house as well as you. Its type, its condition, who lives in it: all of that decides which lenders can even take the file, sometimes before your income comes up.
Document the building
Pull together leases if there are any, tax statements, and the condition and title records. When the property is well documented, the file moves. When the lender has to guess, it slows down.
The full monthly picture
Mortgage payment aside, you’ll pay municipal and school taxes, insurance, heat and upkeep. Many lenders also want a cushion left in your account once the deal closes.
Documents to gather
What the lender will ask for.
Intended use
Building type and layout
Appraisal and comps
Income or leases
Down payment or equity
Eligible lenders
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. Collected before the offer, they make a five-day financing condition workable. Collected afterwards, they add weeks to the timeline.
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.
