Documentation Verification

Supporting Documents

Along with the client application and snapshot, income and down payment sources need to be verified with proper documentation before submitting to a lender. Once a purchase & sale offer has been accepted, the property documents would be needed to be submitted for approval.

Documents can be emailed directly to irene@irenestrong.com. If email is not possible alternative arrangements can be made by contacting Irene, 778-847-8466 or irene@irenestrong.com.

 

REQUIRED DOCUMENTATION
Salaried/Hourly Employed

Most recent T4

If commissioned, overtime pay, bonused or additional benefits such as car allowance, lenders will require most recent 2-years T4’s

Two Most recent Pay Stubs

Most recent Notice of Assessment (NOA)

Need to show no taxes owing. If taxes owed, must provide proof of outstanding taxes paid.

Letter of Employment

Written on letterhead with contact details of Owner, Manager or HR representative. Must include title, tenure, salary, any overtime/bonus. Lender will call for verbal confirmation of employment.
*Additional documents may be requested by the lender at a later time

REQUIRED DOCUMENTATION
Business Owner

2 most recent T1 Generals
including statement of business activities 

2 Most recent Notice of Assessments 
No taxes owing 

Need to show no taxes owing. If taxes owed, must provide proof of outstanding taxes paid. Lender will request to have most recent 2-years NOA

Business License, if applicable

Articles of Incorporation, if applicable

*Additional documents may be requested by the lender at a later time

REQUIRED DOCUMENTATION
Down Payment

If Existing Equity &/or Property Sale:
Mortgage Statement

If Property Sale:
Contact of Purchase & Sale

If Property Sale:
Statement of Adjustments

If Property Sale:
Order to Pay

If Savings/Investments/RRSPs:
90 day Account Statement Records

If Gifted Funds:
Gift Letter

Each lender will have their own template gift letter for completion and signing.
*Additional documents may be requested by the lender at a later time

REQUIRED DOCUMENTATION
Property

Contract of Purchase and Sale

MLS Listing

Property Disclosure Statement
(PDS)

Strata Form B
(if strata property)

*Additional documents may be requested by the lender at a later time

The Lender may request additional supporting documentation as they underwrite the client file. Requests can include items, such as:

  • AGM and strata meeting minutes
  • Debt payment statements
  • Separation Agreement
  • Child Support Documentation