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).
  • Make broker aware of any past credit problems you may have had.
  • Write a list of questions you would like to have answered by your broker.