A lender signs off on the property as much as on you. What kind of building it is, what shape it’s in and what you plan to do with it decide which lenders can take the file. Sometimes that happens before your income is even looked at.
Show the building properly
Bring what describes the property: leases if there are any, tax bills, condition reports, title records. A well-documented building moves faster than one the lender has to guess about.
The full monthly cost
Mortgage payment aside, there are municipal and school taxes, insurance, heating and maintenance. Many lenders also expect a cash reserve in your account once the deal closes.
Documents to gather
What the lender will ask for.
How the property is used
Type of building
Appraisal and comparables
Income or leases
Down payment or equity
Lenders that qualify
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 proof of the rent actually collected. If they’re ready before you make an offer, a short financing window is 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.
