They read your tax documents. Income that’s absent from your notice of assessment is invisible to them, no matter how steady it is.
Match the lender to your paperwork
Self-employed, commission, variable pay: each lender has its own method. Some average two years, others keep the lower one. It changes your borrowing amount more than the rate ever will.
Don’t send a half-empty file
Gaps in the file lead to declines that were avoidable. Get the documents sorted first, so the lender isn’t left guessing.
Documents to gather
What the lender will ask for.
What the file is for
Income and documents
Debts and credit
Property or security
Timeline
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. Before the offer, they make a five-day financing condition workable. Afterward, 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.
