Need a mortgage document checklist?

You are about to contact your lender or Alberta Mortgage Broker, and want to get some paper work ready.  Well this is what you might need.

You should get a nice little check list when you get the process started, but this will help you get things in order or at least give you some expectations around what you might need to dig out of the filing cabinet for this mortgage.  Of course every case is different, so if it does not apply to you don’t worry about it.  

• Proof of a minimum 3 year Employment History (Minimum 3 months at current job PLUS previous employment details, employment letter stating not on probation, last two pay stubs,

• Address of where you have lived for the last 3 years.

• Verification of Assets such as RRSP’s, vehicles, quads, trailers, or other property that you

• List of Liabilities and personal loans and the monthly payments for them

 

• Proof of your Down Payment for the home you are purchasing, including a 90 day history of those funds

• A signed Gift Letter if the funds you are using for the down payment are being gifted to you for your purchase.  Be mindful that most lenders have their own letters you might have to get signed.

• A Void Cheque for where your payments will be taken from

• A copy of the Purchase and Sale Agreement

• Your most recent Property Tax Assessment to prove there are no property taxes owing in your name

• MLS Listing of the property you are buying

• Statement of Existing Mortgage if you are paying it out to refinance, etc.

• The name and contact information for your Lawyer

• Separation or Divorce Documents if applicable

• Court Orders pertaining to child or spousal support payments, and 3 months of account statements to verify the payments are being paid and up to date

• Your most recent Notice of Assessment to prove there are no taxes owing in your name

• Bankruptcy Discharge Papers, if applicable

If the list seems over whelming, just take it one step at a time, as being a lender, or a Calgary Mortgage Broker its all about getting everything in order to paint the best possible picture we can.  We are trying to show stability, ability to pay back the loan, and that you have the character to pay it back.   If you have questions on your mortgage, pick up the phone and call or text  403-807-8779