Documents Required for Mortgage Approval in Ottawa

There have been many changes in mortgage laws over the past few years. These changes may affect your mortgage approval results. Also, if you have a previous mortgage permit, some of the changes could affect your previous mortgage approval. Thus, if you do not have prior permission in place or it has been delayed since your previous Ottawa mortgage approval, now is the time for pre-approval.

The process of mortgage approval is similar to pre-mortgage approval: you will need to provide your real estate agent or lender with specific information about the home you are buying, as well as income and down payment details.

Some of these documents are required for Mortgage approval:

Employment and Income information

  • Current Employment income slip or pay stubs
  • T1 Tax Forms and Tax returns
  • Other sources of income such as freelance income, investments and rental income
  • Letter of employment from your employer
  • If you are self-employed then needed Business Articles of incorporation

Personal Financial Documents

  • Personal Bank Account Details
  • All Statements of investments
  • Credit Report
  • Pre- Approval Letter (it’s optional)

Information of Down Payment

  • Statement of savings and investments from last 90 days
  • A copy of the sale agreement of the existing property
  • Home Buyers’ Plan (HBP) proof of withdrawal from your RRSP
  • Gift Letter

Details of Property

  • Sale and purchase agreement
  • MLS Listings
  • Recent Mortgage Statement
  • For rural properties, well and septic certificates
  • The legal description of the home

You might think that mortgage rates will always be very high, but for Eazy Cash, please be different. We offer very good prices without any controversy, so call us at 613-699-0011 for quick and easy mortgage approval in Ottawa. We think you will be pleasantly surprised!

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