Buyer Tips

PRE-QUALIFICATION/PRE-APPROVALS


Information required to be pre-approved for a mortgage:

• Have your employer provide you with a letter on company letterhead outlining your name, position, gross annual income, and number of years employed with the company.
• If self employed, three years financial statements, and tax returns (together with official assessment from Revenue Canada are required).
• List 3 years of history of residences and employers.
• Know your banking information (institution name, address, type of accounts and account numbers).
• Know your assets and their value (e.g. cash amounts, stocks, bonds, RRSP's, car).
• Know your liabilities (e.g. car loan, credit card balances).
• Write a list of questions you would like to have answered by your broker.