US customers
Checklist for documents. Every item covered.
Everything a licensed provider needs to review your file, in one list. Employed first, then the additional items for self employed income. No fee at any point.
Ten minutes to start an application
Reviewed by a licensed provider, riba-free
For employed individuals that receive W-2 income
Last two year W-2’s and Federal Income Tax returns from all employment sources for all lessee’s (borrowers)
Last two month paycheck stubs
Last two month bank / investment statements
Copy of ID and work authorization in US (passport, soc. sec. card, drivers license, visa, etc.)
Copy of purchase agreement if available
For self employed or individuals with some self employment income
Same items as above
Last two year Federal Income Tax Returns for business and personal
Last two month business bank statements
For employed income
Employment letter, within the last 30 days
3 or 4 most recent pay stubs
3 months of bank statements showing your pay deposited
How much down payment, and where it is held
3 months history of the deposits, whether in RRSP’s, investments or a bank account
For self employed, business owners and drivers
3 months self and business account statements
Last 2 years of T1 Generals for self
Last 2 years of statement business activities for the business
Copy of business licence (must be 2 years old) — in some cases lenders make exceptions
If this is a corporation, copy of articles of incorporation
Canadian customers
Items needed in Canada. Province to province.
The same review applies across the provinces, with a few documents specific to Canadian income and deposits.
Minimum down payment of 5%, or 10% if self employed
Licensed providers in every province
Submitting documents
General instructions.
A few practical points that save time once your file reaches a licensed provider. If you would rather talk it through first, an advisor will walk you through the list.
Scan and email wherever possible
Send every numbered page in the set
Statements
All pages of statements must be included if they have a page number, even if they are blank or have generic text
If your bank statements have a generic printed back and your page numbers indicate that only pages 1, 3, 5 have your account info on them, you will have to copy the back of page 1 and 3 and include those pages also
Delivery
Whenever possible, please scan and email documents
If sending documents via mail, please do not staple
Send only single sided copies
It is always best to scan IDs, as faxing a copy of a drivers license often makes the picture unviewable and the text hard to read