When applying for financing, all applicants must provide the lender
with the necessary documents in order to obtain their final approval.
We ask that all pre-approved applicants get their documents ready ahead
of time so that when you put your offer in all you have to do is provide
the documenatation instead of scrambling around looking for what is
required at the last minute. Your approval will be based on the information
given and the supporting documentation provided by you. Your information
will be held in the strictest confidence and will only be used for your
financing application.
For a fast loan approval the following information will be required:
1) Employment Letter on company letterhead
that includes start date, position, salary or wage and eligibility for
overtime if needed - for each applicant.
2) Most recent Pay Stub for each applicant
with Year To Date total on them.
3) Your last 2 years (3 preferably) Notice Of Assessments
(NOA) from the Canada Revenue Agency (CRA) or T4’s
from your employer(s). If you do not have these then you will need to
call CRA at 1-800-959-8281 and have them send another copy. This can
take up to 2 weeks.
4) Proof of your Down-Payment from your own
resources which must include 3 months bank account history
showing regular deposits, which also must be teller stamped and include
your name.
Please Note: any large deposits over $2,000 must be explained
as to the source and documentation provided.
4a) If your Down-Payment is from a Gift then
you will need to provide a Gift Letter stating whom the gift is from,
the total gift, the relationship to the person gifting the money (generally
must be immediate family), the institution the gift is currently held
and proof of this gift. The gift must be in your account no later
than 15 days prior to closing.
4b) If your Down-Payment is from a GIC, RSP or RRSP
they must be free and clear (Not Borrowed) and verification must be
shown. RRSP’s must be in a minimum of 90 days prior to closing,
however they may be taken out up to 30 days after closing.
5)Two pieces of Identification, 1 piece photo
and 1 non-photo. Examples: Drivers License, Passport, Visa, SIN Card
- (Health Cards are NOT acceptable)
6) Void Cheque for the account you want your payments
to come out of.
7) If you are in Business For Self (BFS) then you may be required to
provide your Business Registration, recent GST
Returns or Articles of Incorporation as proof of business for self.
For all purchases we will also require a complete and executed copy
of your:
8) Purchase and Sale Agreement. If you are
selling your current home, we will require the same for that sale as
well.
9) Copy of the >MLS Listing
The 2 documents named above are normally provided to us by your Real
Estate Agent.
Financing for your Home
Our revolutionary buyer-financing programs work – it’s
that simple. As pioneers in the industry, we’ve been housing families
with our No Money Down™ , Lease-to-Own™ and Purchase Plus
Improvements programs since 1995.
One financing program may be more suitable than the other depending
on your situation, but regardless of which program you use, a custom
financial management package is designed for each and every client –
sometimes by combining two programs – at no additional cost to
you.
Can’t decide which program to apply for? Upon reviewing your
application we’ll recommend the one that addresses your needs
best, keeping you and your best interest in mind at all times.
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