Identification and personal details
You will need a government-issued photo ID such as a driver's licence or passport, along with your social insurance number for credit checks. Lenders also want your current address history and details about any other properties you own.
Proof of income
For salaried employees this usually means recent pay stubs, a T4, and a letter of employment. Self-employed applicants generally need two years of Notices of Assessment, T1 generals, and financial statements for their business.
- Two most recent pay stubs
- Letter of employment on company letterhead
- T4 slips or NOAs for the last two years
Down payment verification
Lenders want to see where your down payment is coming from and that it has been sitting in your account for at least 90 days. This might mean bank statements, a gift letter from a family member, or proof of sale from another property.
Property information
Once you have an accepted offer, you will need to provide the purchase agreement, MLS listing, and details about property taxes and condo fees if applicable. Condo buyers should also expect to submit status certificate details for underwriting review.
Liabilities and existing debt
Be ready to disclose credit cards, car loans, lines of credit, and any other mortgages. Lenders pull a credit report, but they also want statements to confirm balances and minimum payments match what shows on your file.
Frequently asked questions
- How far back do bank statements need to go?
- Most lenders want at least 90 days of statements to confirm your down payment funds have been in your account long enough and to check for unexplained large deposits.
- What if my down payment is a gift?
- You will need a signed gift letter from the family member confirming the funds are not a loan and do not need to be repaid.
- Can I apply before I have an accepted offer?
- Yes, a pre-approval only requires your income, credit, and down payment documents. Property details come later once you have a specific home under contract.