Documents Required For Financing
Income:
Salaried:
Base + commission income:
Commission:
Self-employed:
Pension:
Maternity:
Down Payment Confirmation:
If saved up for a down payment:
If received a gift from an immediate family member for a down payment:
Down payment from property sale proceeds:
Salaried:
- Current pay stub
- Letter of employment (must be on company letterhead and have the following: outline of compensation, year-to-date (YTD) earnings, job tenure, supervisor, or HR contact info)
- Current pay stub
- Letter of employment (must be on company letterhead and have the following: outline of compensation, year-to-date (YTD) earnings, job tenure, supervisor, or HR contact info)
- T4s or Notices of Assessment from the last two years
Base + commission income:
- Notices of Assessment from the last two years
- Letter of employment (must be on company letterhead and have the following: outline of compensation, year-to-date (YTD) earnings, job tenure, supervisor, or HR contact info)
Commission:
- Notices of Assessment from the last two years (NOAs are two-page documents summarizing your annual income that the CRA sends you after you file your taxes)
- Statement of YTD earnings
- Tax returns from the last two years
Self-employed:
- Notices of Assessment from the last two years
- T1 Generals for the last two years or taxes filed
- Proof of being self-employed such as one of the following: GST Number, Articles of Incorporation, Statement of Business Activity from your Tax Return, Business License,
Pension:
- Notices of Assessment from the last two years (NOAs are two-page documents summarizing your annual income that the CRA sends you after you file your taxes)
- Statement of pension income or bank statements from the last three months showing pension deposits
Maternity:
- Notices of Assessment from the last year
- Letter of employment stating your return to work date (must be on company letterhead and have the following: outline of compensation, year-to-date (YTD) earnings, job tenure, supervisor, or HR contact info)
Down Payment Confirmation:
If saved up for a down payment:
- Bank or investment statements from the last three months (90 days) from the account that holds your down payment
If received a gift from an immediate family member for a down payment:
- A gift letter and confirmation of that gift in your account at least 15 days before possession
- A gift letter signed by the family member gifting you money
- A bank statement showing the gifted funds in your account
Down payment from property sale proceeds:
- Firm sale agreements on the property showing the market value
- A recent mortgage statement showing your mortgage balance.