Stay prepared and make your approval process smoother.

When you're applying for a mortgage, whether it's your first home or your fifth, having the right documents ready can speed things up and help your broker or lender assess your application accurately.

Here’s a breakdown of the most commonly required documents and why each one matters.

1. Government-Issued Photo ID

Why it's needed: To confirm your identity.

Use a valid passport, driver's license or provincial ID.

2. Proof of Income

Why it's needed: Lenders need to verify you can afford the mortgage.

Depending on how you earn, you'll need:

3. Recent Credit Report or Authorization

Why it's needed: To understand your creditworthiness.

You may be asked to consent to a credit pull or provide a recent report from Equifax.

4. Bank Statements

Why it's needed: To show assets and down payment source.

Expect to share the last 90 days of your savings, chequing, or investment accounts.

5. Proof of Down Payment

Why it's needed: Lenders must verify where the funds are coming from.

Acceptable proof includes:

6. List of Current Debts

Why it's needed: To calculate your debt ratios.

Have a list of:

7. Details on the Property (if applicable)

Why it's needed: Especially important if you're buying or refinancing.

Include:

8. Co-Applicant Information

Why it's needed: Both applicants are assessed together.

They'll need to submit the same documentation as listed above.

Pro Tip: Start Early

Even if you’re just thinking about applying, start gathering your documents now. It’ll make the pre-approval and full application process quicker, smoother, and less stressful.