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A lender has to trace your down payment over three months. A large unexplained deposit blocks a Chaudière-Appalaches file more surely than a small down payment.
Where the money came from counts as much as how much there is. The lender has to trace the funds over about three months, and one large unexplained deposit stalls a file more surely than a small down payment. A gift has to be a real gift, with a letter saying it is not repayable.
Three months of statements for every account the money leaves, and the trail for any unusual deposit. For a gift, the donor’s letter. For funds from abroad, proof of the transfer and of their origin. For the HBP or FHSA, the plan statements.
A document has to be recent, readable and consistent with the rest of the file. A statement with a page missing, or a name spelled differently than on your notice of assessment, and a Chaudière-Appalaches file goes back for clarification.
Names, dates, balances, where the money came from: everything has to match from one document to the next. An unexplained deposit is the most common reason a Chaudière-Appalaches file stalls at the verification stage.
An unusual amount, a missing page, two statements that do not agree: the lender will ask, so answer before it does. A gift, a bonus or a transfer between your own accounts goes through fine once it is documented, in Chaudière-Appalaches as anywhere.
The lender’s calendar, the insurer’s and the notary’s all have to mesh. It is nearly always the last link that hands in its confirmation after the condition has expired.
To prepare
Yes. It all runs by phone, email or video call, and documents go through online. We can meet in person, but most files get settled without anyone having to travel.
Yes, with a letter from the donor confirming the money does not have to be repaid. The gift itself blocks nothing. A large deposit you cannot trace over three months does.
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Contact
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.