Residential Mortgages

Checklist

Income

Employed

  • Current Job letter - issued within the last 30 days

  • Current Paystub - Issued within the last 30 days

  • 90 days of bank statements confirming the pay coming in the bank account

  • Most recent two year’s T4’s.

  • Most recent two year’s NOA’s (Notice Of Assessment from CRA, showing
    taxes paid to date).

Income

Self-Employed

  • Most recent two year’s full T1 Generals, with Statement of Business Activities 

  • Most recent two year’s NOA’s (Notice Of Assessment from CRA, showing taxes paid to date.

  • 6 -12 Months of Business Bank Statements showing business deposits. If Incorporated, provide the most recent 2 year’s Corporate Financial Statements.

Income

Pensioner

  • Most recent year’s T4A.

  •  Current 90 Day Bank Statement history showing Pension Deposits, indicating (a) client name (b) the account information.

  • Most recent two year’s NOA’s (Notice Of Assessment from CRA, showing taxes paid to date).

Income

Other Income confirmation

  • Current 90 day Bank Statement history of Child Tax income/payroll deposits, indicating (a) client name (b) the account information OR the most recent year's Universal
    Child Care Benefit Statement issued from the Government.

  • Current 90 day Bank Statement history of Child Support income deposits, indicating: (a) client name (b) the account information.

  • Current 90 day Bank Statement history of Spousal Support income deposits, indicating (a) client name (b) the account information.

  • Current 90 day Bank Statement history showing Maternity Leave income deposited including (a) client name, (b) account information, and (c) deposit amounts.

  • Employer Return-to-Work letter, if available.

Down-Payment Confirmation


  • Current 90 day Bank Statement history, indicating (a) client name (b) the account information, and (c) current balance, showing the funds having remained or been accumulated in the account, OR please inform us of where the down-payment funds are coming from (i.e. gift from immediate family). 

Subject Property

(Purchase/Refinance/Renewal):

  • Please connect us with your Realtor now, OR provide (a) Signed and Accepted Contract of Purchase & Sale including all Addendum's, (b) Property Disclosure Statement, (c) Listing Data Sheet, and (d) Title Search copy. 

  • Most recent 6 months of Strata Meeting minutes.

  • Most recent year’s Annual General Meeting (AGM) minutes.

  • Copy of the FORM B confirming Strata Fee amount.

  • A recent Mortgage Statement from within the last 30 days, indicating (a) client name (b)
    the account information (c) property address and (d) current balance.

  • Current Rental / Tenancy agreement, if applicable.

  • 2019 Municipal Property Tax Notice.

  • Confirmation of Strata Fee withdrawals by way of a current 90 day bank statement OR
    most recent year’s Strata Fee Schedule.

  • Articles of Incorporation for Borrowing Entity (Company purchasing property & on Title).

  • Developer Disclosure Statement.

  • Copy of completed Floor Plans.

  • Recent Property Appraisal, if available.

Subject Property - Construction

(Purchase/Refinance)

  • Please connect us with your Realtor now, OR provide (a) Signed and Accepted Contract of Purchase & Sale including all Addendum's, (b) Property Disclosure Statement, (c) Listing Data Sheet, and (d) Title Search copy.

  • Copy of Completed Budget for detailed Cost-of-Construction.

  • Copy of completed Floor Plans.

  • A recent Mortgage Statement from within the last 30 days, indicating (a) client name (b) the account information (c) property address and (d) current balance.

  • Builder’s Resumé of Experience for most recent 3 projects completed, including Scope of Work and Property Addresses.

  • Copy of 2019 Municipal Property Tax Notice.

Additional Properties Owned

For all the properties owned by the client

  • A recent Mortgage Statement from within the last 30 days, indicating (a) client name (b) the account information (c) property address and (d) current balance.

  • Current Rental / Tenancy agreement, if applicable.

  • 2019 Municipal Property Tax Notice.

  • Confirmation of Strata Fee withdrawals by way of a current 90 day bank statement history OR most recent year’s Strata Fee Schedule.

Authorization


Please sign and return the client engagement letter. The form is available to download in the resources section

Additional


  • Previous client residential address must be provided for a 3 year history.

  • Previous client employment must be provided for a 3 year history.

  • Copy of an executed Separation Agreement.

  • 2 pieces of ID. (eg. Drivers licence, Passport, Service Card).

 

(604) 593-1550

(604) 608 5508

12725 80 Ave Suite 202, Surrey, BC V3W 3A6, Canada

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©2020 by Kraft Mortgages Canada Inc.