A lender approves the property along with the borrower. Building type, condition and use decide who can take the file, at times before they’ve looked at your income.
Lay out what the property is
Leases if any, tax bills, condition and title records. The clearer the picture of the building, the faster the file moves. A lender who has to guess will slow down or say no.
Budget the whole thing
Taxes, insurance, heating and maintenance come on top of the payment. Many lenders also want cash left in your account after closing.
Documents to gather
What the lender will ask for.
Use of the property
Building type
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 zoning, year-round access and proof of services. Have them ready before you make an offer and a short financing window stays 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.
