Jason Peatz – Mortgage Associate

The 9 Most Common Paperwork that is Required for Purchasing a Home

April 7, 2009 10:46 am Jason Employed Persons, First Time Home Buyer, List, Pre Approval, Proving income

The following is what most buyers can expect to have to provide to the lender to purchase a home:

• Job letter – It will need to show:
  • your job title,
  • the day you started working there,
  • your annual salary and
  • the contact information for your HR department;
• Current pay stub – a paystub from the last month that shows your gross salary, deductions and net salary will be fine;
• Void cheque – this is so the lender will know where to withdraw the funds from after funding;
• Three month history of your down payment – bank statements, RRSP statements, GIC statements;
• Offer to purchase – this is the agreement between the buyer and the seller that outlines the conditions of the sale;
• MLS listing/Feature Sheet – when purchasing a used house where a realtor is involved the MLS listing is required – for all other deals (private sales and new builds) a feature sheet will tell the lender about the house;
• Real Estate Lawyer contact information – so the lender knows who to send the final paper work to;
• Credit bureau – part of your mortgage broker’s complimentary service;
• Appraisal – your mortgage broker will set this up for you – it is to ensure that the price that you are paying for the property is fair.

This list applies to most people who are purchasing their first home.  Other paperwork may be added if you are separated, divorced, business for self, new to Canada, purchasing in a rural area, etc..

A good mortgage broker with the time to look at your situation will be able to help you by providing you with a list of what you will need to gather.

Feel free to contact me if you have any further questions or comment below and I will respond.