Thursday, January 14, 2016 / by Robert Fyfe
Getting Prepared for Pre-Approval
Five Critical Documents That You'll Need to Have Ready Before Applying for a Mortgage
If not done properly applying for a mortgage can be stressful and time consuming, but with the right preparation the entire process can be seamless. Here are five crucial pieces of information that almost any lender will require before approving a mortgage.
Tax Information From The Previous Two Years
One of the most important documents a borrower will be asked for is their tax return along with a signed T-4, which will allow the lender to contact the CRA directly for their version of the federal tax return to compare to the ones provided. This allows them to examine the documents for any sign of fraud.
Documentation On All Owned Assets
The mortgage lender will require proof of every current asset owned by the borrower. This will include any current real estate titles along with bank and mutual fund statements and documentation on current investments. Don't be shy, every asset owned is a better si. ...
If not done properly applying for a mortgage can be stressful and time consuming, but with the right preparation the entire process can be seamless. Here are five crucial pieces of information that almost any lender will require before approving a mortgage.
Tax Information From The Previous Two Years
One of the most important documents a borrower will be asked for is their tax return along with a signed T-4, which will allow the lender to contact the CRA directly for their version of the federal tax return to compare to the ones provided. This allows them to examine the documents for any sign of fraud.
Documentation On All Owned Assets
The mortgage lender will require proof of every current asset owned by the borrower. This will include any current real estate titles along with bank and mutual fund statements and documentation on current investments. Don't be shy, every asset owned is a better si. ...
