IT'S EASY TO GET STARTED

Getting a mortgage is one of the single most important decisions you'll ever make. And while buying a home, moving into a condo, or downsizing to a recreation property can be exciting, trying to figure out what you need to get approved can be daunting.

Not anymore! If you're ready to get started on applying for a mortgage, we've put together a list of forms and requirements below to take the guessing out of getting started!


Application Forms & Required Documentation

Sample – Notice of Assessment

Any of the applicant(s) or co-applicant(s) must provide a Notice of Assessment. This document is normally requested by a mortgage company for two reasons: to confirm your taxable income (showing as your Line 150 income) and to confirm if there are any outstanding taxes owed to Revenue Canada. A sample of this statement is downloadable below, and may be available from your accountant as well.

Download PDF - Sample Notice of Assessment

Mortgage Application

In order to process a mortgage application or pre-approval, we will need various employment, residence and financial information from the applicant(s) and co-applicant(s). To expedite the process in putting this information together, we provide the fillable mortgage application below.

Download PDF - Mortgage Application

Sample – T1 General Tax Return

In order to process a mortgage application or pre-approval, we will need a T1 General Tax Return for the applicant(s) and co-applicant(s). A sample of this return is downloadable below, and may be available from your accountant as well.

Download PDF - Sample T1 General Tax Return

Gift Letter

If any part of the mortgage's downpayment is being gifted by a family member, relative, or friend, financial institutions will require a signed and dated copy of a gift letter, available for download below.

Download PDF - Gift Letter Form

Client Consent Form

In order to process a mortgage application or pre-approval, we will need permission from the applicant(s) and co-applicant(s) to contact consumer reporting agencies, credit bureaus, financial institutions, and real estate appraisers. To obtain this permission, we provide the client consent form below.

Download PDF - Client Consent Form

Form B

A Form B is the strata corporation’s information certificate. Typically when someone is purchasing a condo, the contract is subject to receiving and approving a Form B. The required contents of this form are set out in the Regulations of the Strata Property Act, and the form is available for download below.

Download PDF - Form B

Sample – Statement of Business Income

If any of the applicant(s) or co-applicant(s) have income derived solely or partially from a self-owned business, a Statement of Business Income is required for a mortgage application or pre-approval. A sample of this statement is downloadable below, and may be available from your accountant as well.

Download PDF - Sample Statement of Business Income

Sample –  Statement of Property Rental

If any of the applicant(s) or co-applicant(s) have income derived solely or partially from a rental property, a Statement of Property Rental is required for a mortgage application or pre-approval. A sample of this statement is downloadable below, and may be available from your accountant as well.

Download PDF - Sample Statement of Property Rental



NEED HELP GETTING STARTED?

 

Phone: 604.838.6725
Fax: 1.888.511.3411

E-mail: info@approvalpro.ca
VERICO Paragon Website: www.paragonmortgage.ca

 

THE INS & OUTS OF MORTGAGES

Whether you're a first-time buyer, refinancing or looking to get a second mortgage for renovations, we'll break down everything you need to know about mortgages!

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IT'S EASY TO GET STARTED!

If you're ready to get started on applying for a mortgage, we've put together a list of forms and requirements to take the guessing out of getting started!

Apply Now