Thursday, December 4, 2014

Ways to speed up your mortgage approval!

Every mortgage professional needs supporting documents to arrange a mortgage approval: Below is a list of items you may need to provide:

1. Photo ID - have a clear copy on file to send to me when we work on your application
2.I will require your social insurance number in order to access your credit bureau

For Income we could ask for any of the following items:
1. Letter of employment
2. Most recent Paystub
3. Union Letter
4. Last two years T-4's
5. Last two years Notice of assessments - see my post earlier this week on how to obtain this
6. Last two years T-1 Generals-see my post earlier this week on how to obtain this
7. Business Financials

For Down Payment we could ask for any of the following items:
1. 3 months bank statements, savings or chequing account
2. Most recent RRSP and investments statements
3. Gift letter provided by myself and signed by you with proof of gifted funds deposited into the bank account
4. Source of borrowed funds

Housing History:
1. Most recent property tax assessment
2. Most recent mortgage statement
3. Rental agreement or lease agreement - only can be used for legal suites

Contact Amy to get the preapproval started today and I can tell you what out of the above documents you will be required to provide.
 
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