Lender Checklist: What You Need for a Mortgage

Posted by Christopher Audette on Thursday, July 1st, 2021 at 4:58pm.

Lender Checklist: What You Need for a Mortgage

  • T-4 forms — or business tax return forms if you're self-employed — for the last two or three years for every person signing the loan.
  • Copies of at least one pay stub for each person signing the loan.
  • Account numbers of all your credit cards and the amounts for any outstanding balances.
  • Copies of two to four months of bank or credit union statements for both checking and savings accounts.
  • The lender, loan number, and the amount owed on other installment loans, such as student loans and car loans.
  • Addresses where you’ve lived for the last five to seven years, with names of landlords if appropriate.
  • Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.
  • Copies of your most recent retirement account statement.
  • Documentation to verify additional income, such as child support or a pension.
  • Copies of personal tax forms for the last two to three years.

The first step in the home buying process is setting up pre-qualifications with a few lenders. Once you have found the lender with the most favourable rates and terms, initiate the process of a pre-approval with this lender to ensure that any discrepancies, problems or additional requests are handled well in advance. Speak with a mortgage associate and get the process rolling.

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