Once you understand how much you think you can afford, it’s time to meet with us. We’ll be looking for some information such as:
- Personal information: government I.D., background information such as age and marital status, etc.
- Financial information: savings you have annual income, 90-day transaction record for payroll deposits or proof of payment, etc.
- Asset information: other properties owned, RRSP/TFSA, investment balances, vehicles (make, model, year), etc.
- Debt information:
- Credit card and lines of credit
- Child or spousal support payments
- Car lease or payment information
- Student loan amounts and payment schedule
- Personal loan information
- Down payment information: We will need a confirmation that you have a down payment and how the money was saved (you may need to confirm some of the money as a gift from family or friends and show proof that re-payment is not required).
- Proof of employment: 90 days of payroll deposit into an account with us, letter of employment, paystub and last year’s T4s, two most recent Notice of Assessments (NOA) from the Canada Revenue Agency, or a combination.
- Income source information: If you have other sources of income such as a rental suite, part-time work or a pension, we may ask for your T1 Generals as well.