The lender approves the property as much as it approves you. What kind of building, what condition, what use: those answers can shut out certain lenders before your income gets a look.
Hand over the documents
Leases where they exist, tax statements, condition and title records. What you want is a file that describes the building without the lender having to guess.
The budget beyond the payment
Taxes to the municipality and the school board, insurance, heat and maintenance sit on top of the payment. Many lenders also expect money left in your account after closing.
Documents to gather
What the lender will ask for.
Purpose
Building type
Appraisal, comparables
Rent and 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. Add the current leases and records of rent actually collected. Ready before you make an offer, they make a short financing window realistic.
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.
