Karen Matthey

Documents Required For Financing

What To Start Collecting

Required From All Applicants:

What is Required For Proof of Income:

Salaried / Guaranteed Hours
Employment Letter must be on company letterhead and including the following  information:
  • annual salary or hourly rate of pay and guaranteed number of hours per week or pay period
  • job role / title
  • how long you’ve worked there
  • dated within the last 30 days
  • signed by a manager or someone from HR with their full contact information
  • Current pay stub (within the last 30 days)
  • Most recent year’s T4 (we can get these directly from CRA on your behalf)
Hourly, Part Time, Or Non-Guaranteed Income:
Employment Letter must be on company letterhead and including the following information:
  • hourly rate of pay and average hours per week or pay period, or year-to-date earnings
  • job role / title
  • how long you’ve worked there
  • dated within the last 30 days
  • signed by a manager or someone from HR with their full contact information
  • Current pay stub (within the last 30 days)
  • 2 most recent year’s T4s (we can get these directly from CRA on your behalf)
  • Notice of Assessments (we can get these directly from CRA on your behalf)
Commission Income
Employment Letter must be on company letterhead and including the following information:
  • confirm your commission status and your YTD earning
  • job role / title
  • how long you’ve worked there
  • dated within the last 30 days
  • signed by a manager or someone from HR with their full contact information
  • 2 most recent year’s T4s/T4As (we can get these directly from CRA on your behalf)
  • Notice of Assessments (we can get these directly from CRA on your behalf)
  • 2 most recent year’s full T1 general tax returns
  • Current pay stub or commission statement (within the last 30 days)
Self-Employed – Sole Proprietor / Partnership
  • 2 most recent year’s full T1 general tax returns including all schedules (e.g. Statement of Business Activities)
  • 2 most recent year’s Notice of Assessment showing no income taxes owing
  • 2 most recent years’ full company financials if applicable
  • Proof of being self-employed: (e.g. Business License, GST Number, Articles of Incorporation, Statement of Business Activity from your Tax Return or Partnership Agreement)
Self-Employed – Incorporated
  • Articles of Incorporation
  • 2 most recent year’s full T1 general tax returns including all schedules (e.g. Statement of Business Activities)
  • 2 most recent year’s Notice of Assessment showing no income taxes owing
  • 2 most recent years’ full company financials
Pension (CPP / OAS)
  • 2 most recent year’s T4s/T4As and Notice of Assessments (we can get these directly from CRA on your behalf)
  • Three months of bank statements showing pension deposits
Pension (Workplace Pension)
  • Annual Pension Letter or Statement confirming the amount of the pension and that it is a workplace pension
  • 2 most recent year’s T4s/T4As (we can get these directly from CRA on your behalf)
  • Notice of Assessments (we can get these directly from CRA on your behalf)
  • Three months of bank statements showing pension deposits
Disability Income
  • Annual Disability Letter or Statement confirming the amount of the disability and that it is Long-Term Disability
  • 2 most recent year’s T4As (we can get these directly from CRA on your behalf)
  • Notice of Assessments (we can get these directly from CRA on your behalf)
  • Three months of bank statements showing disability deposits
Maternity Leave
  • Letter of employment stating your return to work date (must fit criteria above depending if you are salaried, part time, etc)
  • 2 most recent year’s T4s/T4As (we can get these directly from CRA on your behalf)
  • Notice of Assessments (we can get these directly from CRA on your behalf)

What is Required For Down Payment Confirmation:

If In A Savings Account
  • Bank Statements from the last 90 days (three months) from the account that holds your down payment. The statements must clearly show your name, the dates from 90 days to today and must show all transactions in and out of the account. If you have had any deposits or transfers over $1,000 other than payroll in the last 90 days, we will need to show 90 days of proof of where those came from (e.g. transfer from another account so 90 days statement from that account, etc).
If In An RRSP
  • RRSP statements from the last 90 days (three months) from the account that holds your down payment. The statements must clearly show your name, the dates from 90 days to today and must show all transactions in and out of the account. If you have had any deposits or transfers over $1,000, we will need to show 90 days of proof of where those came from (e.g. transfer from another account so 90 days statement from that account, etc.).
  • Once you have an accepted purchase offer, we will also need a bank statement showing the RRSP funds withdrawn and deposited into your bank account.
If In An Investment Account
  • Investment statements from the last 90 days (three months) from the account that holds your down payment. The statements must clearly show your name, the dates from 90 days to today and must show all transactions in and out of the account. If you have had any deposits or transfers over $1,000, we will need to show 90 days of proof of where those came from (e.g. transfer from another account so 90 days statement from that account, etc.).
  • Once you have an accepted purchase offer, we will also need a bank statement showing the investment funds withdrawn and deposited into your bank account.
If You Are Receiving A Gift From An Immediate Family Member (Parent, Child, Sibling, Grandparent)
  • This template differs by lender so this will not be available for the gift or to sign until we have an approved mortgage.
  • We will provide you with a template for a gift letter the person gifting will sign.
  • Confirmation of that gift amount in your account at least 15 days before closing of the purchase (a bank statement showing the gifted funds in your account)
Down Payment From Selling A House:
  • Firm sale agreements on the property you are selling
  • A recent mortgage statement showing your mortgage balance.

What is Required for Refinancing or Renewal

  • Your most recent mortgage statement showing the balance, payment, maturity date, rate and institution
  • Your most recent property tax statement showing the amount of annual property taxes and showing taxes paid and up-to-date
  • Your most recent home insurance policy / statement

Do You Work With Homeowners Across Canada?

I can help finance properties all across Canada with some exceptions (e.g. Quebec)

I look forward to helping you with your mortgage financing.