When the inspection turns up a problem, the lender reassesses the property, not you. Structure, roof and water infiltration worry them; cosmetics don’t.
Figure that out before you look at rates. The deadline drives everything: which lenders can review the file in time, and which documents need to be sitting ready before you commit.
Criteria vary by lender
Each one has its own view on income, on property types and on credit. That’s why a single decline doesn’t predict the next answer, and why the sequence you submit in counts.
Send it complete
A complete file the first time spares you the back-and-forth that adds weeks. Income proof, down payment records, property documents: get them together first so a short deadline stays realistic.
Documents to gather
What the lender will ask for.
Purpose of the file
Income, documents
Debts and credit history
Property or security
Deadline
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. Gathered before the offer, they keep a five-day financing condition workable. Gathered after, they add 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.
