Mortgage Documentation List

Common Mortgage Documentation

We at First Foundation want to make the home buying or refinancing process go as smoothly as possible for our clients.  To help us provide you with the best possible service, we have assembled a checklist for the most commonly required documents that lenders will request.

When applying for a mortgage, please provide us with all of the appropriate documentation as soon as possible so that we can proceed with the application.  It is very important that we receive all of the requested files at least two weeks prior to closing so that we can ensure a smooth and painless mortgage funding for you.

General

  • Signed Mortgage Borrower Disclosure Document
  • Signed Mortgage Application
  • Pre-Authorized Debit (PAD) Form (if provided)
  • Void Cheque (from the account to be used for your mortgage payments)
  • Lawyer/solicitor information (name, phone number, fax number, address, etc.)
  • Appraisal Agreement
  • Signed Privacy Policy Document
  • Life Insurance Application/Waiver
     

Property Information

  • Purchase Contract signed by both the buyer and the seller, with all schedules and amendments (purchase only)
  • MLS or ComFree listing sheet (Purchase) or Property Feature Sheet (Refinance and Smith Manoeuvre)
     

Income

  • Income verification:
    • If you are salaried – a job letter confirming your salary amount and length of employment, as well as as current pay stub.
    • If you are paid hourly – a job letter confirming your pay per hour, the guaranteed number of hours worked per week and length of employment, as well as a current pay stub.
    • If you are paid on commission – a job letter confirming your commission amount and length of employment, the previous two years’ Notices of Assessment from the CRA, and a current pay stub.
    • If you are self-employed – the previous two years’ Notices of Assessment from theCRA, as well as the previous two years’ T1 Generals (with statement of business activities).
       

A note on NOAs: A Notice of Assessment is the summary form that Revenue Canada sends you after your income tax has been filed.  It specifies what you claimed on your taxes last year.  If you do not have a copy of your Notice of Assessment, you can call Revenue Canada at 1–800-959–8281 to obtain a copy or login to the CRA‘s My Account Please note that T4s are not acceptable alternatives for NOAs.

Equity/Down Payment

  • Down Payment Verification (Purchase):
    • If your down payment is from savings in your bank account, provide three months’ (90 days) of bank statements.  The statements must state your account number and name.
    • If your down payment is from investments (RSP, GIC, stocks, bonds, etc.), provide three months’ (90 days) of investment statements.  The statements must state your account number and name.
    • If your down payment is a gift from family, provide a copy of a gift letter and proof that the gift has been deposited into your bank account (bank statement with the balance, as well as your account number and name).
    • If your down payment is coming from the sale of your current home, provide a complete Contract of Sale as well as a current mortgage statement
  • Payment of Appraisal (you will be notified of the amount and payment options at a later date).
  • Current mortgage statement (for Refinance/Smith Manoeuvre)
     

Your First Foundation Licensed Mortgage Broker will forward you any required forms via Docusign for electronic signing, however it is your responsibility to upload, email, or fax in the remaining documents that the lender is requesting.

All documents can be submitted via email (documents @ firstfoundation.ca) or sent in via fax at (780) 432–4133.  Please note that the above documents are to be received two weeks prior to the closing date or the mortgage application may not proceed.  Also, in addition to the above, you may be asked to provide other documents as required by your specific circumstances.

Please note – these documents are not available online presently but you will receive the appropriate forms after you submit your application either in person at our office, via email, fax, or online.

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Last updated Apr 23, 2014