On This Page
Whether you’re applying for a new mortgage, refinancing, or moving to a HELOC, the documentation requirements are similar across the board. This page covers the most commonly required items to help you get a head start.
You’ll also find several downloadable forms and spreadsheets to help with your home-purchasing journey. If you have questions at any point, call or text Bonnie directly at (250) 300-4845.
Full checklist available: Download the Mortgage & Lending Requirements Checklist (PDF) for a printable version of everything on this page.
Employment & Income
What lenders need to see: Proof that your income is consistent and verifiable. Recent tax documents confirm your declared earnings match your stated income.
- Current pay stub (minimum 45 days old)
- T1 General Income Tax Returns (2 most recent)
- CRA Notice of Assessment (2 most recent)
Proof of Down Payment & Sources
Why this matters: Lenders must verify where your down payment is coming from. Every dollar must be traceable to an acceptable source — savings, investment, gift, or proceeds from a sale.
- Savings and/or investment account statement(s) from the past 90 days
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Using an RRSP withdrawal (Home Buyers’ Plan):
Home Buyers’ Plan (HBP) — A Canadian government program that allows eligible individuals to withdraw up to $35,000 each from their RRSP to buy, build, or maintain a qualifying home. No income tax is due on the withdrawn amount as long as the full sum is repaid within a 15-year term. Eligible applicants include first-time home buyers and those living separately due to a relationship breakdown for at least 90 days.
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Using a cash gift as a down payment:
- Gift Letter (Download PDF) — from the donor confirming the amount and that the gift is free and clear of any repayment terms
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If your down payment is from the sale of an existing home:
- Agreement of Purchase & Sale (Download PDF)
- Copy of recent mortgage statement
- Copy of insurance policy & tax bill
Agreement of Purchase & Sale — A legally binding contract between the buyer and seller of a property, including the deposit, price, and relative dates from creation to closing. The agreement ensures both parties fulfill their obligations. It becomes valid when an offer to purchase is accepted by the vendor.
Your Financial Information
What to expect: Lenders will assess your overall financial picture, including liabilities, savings, assets, and credit health. The tools below help you organize this before your call with Bonnie.
- Current liabilities, debts, savings & assets — Net Worth Assessment Spreadsheet (Google Sheets)
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Up-to-date Credit Report/Score — to run this, you’ll need:
- Signed & dated Credit Report Authorization Consent Form (PDF)
- Government-issued photo ID
New Property Information
Once you have an accepted offer: These documents confirm the property details the lender needs to finalize your approval.
- Signed & dated Agreement of Purchase & Sale (PDF)
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Property tax assessment (most recent)
- Contains the property’s legal address
- Contains square footage & lot size
- Your lawyer’s information (name, email, address, phone & fax)
- A copy of the real estate listing
- Projected annual expenses (property taxes, heating cost estimates) — Projected Annual Expenses (Google Sheets)
- Projected monthly expenses (strata fees, condo fees) — Projected Monthly Expenses (Google Sheets)
- Properties not on municipal sewer & water will require Well & Septic Certificates
Additional Resources
These aren’t required for your mortgage application, but many clients find them useful throughout the home-buying process.
Ready to move forward? Once you’ve gathered your documents, contact Bonnie to arrange a secure digital upload or confirm next steps. She’ll walk you through exactly what applies to your situation.