Mortgage Application Checklist
Get set for a speedy and smooth approval
Home purchase is possibly the most important investment you will ever make. If you are wise, the most dependable and knowledgeable broker from all available mortgage brokers in Calgary will be your guide and partner. Are initial steps of the complex and intricate home buying process over - like preapproval and locating a house etc? Have you seen your future lender for the best loan at most advantageous interest rates? Have you ticked off your mortgage application checklist?
Why so many documents are needed?
The lender before providing you with a large enough loan needs to know whether you can afford the loan. To make sure that you will be responsible and you can and will repay every cent of loan amount without default, you have to show proof of stable job, steady income, sufficient credit, all obligatory expenses and tax payments etc. Your
mortgage broker in Calgary will help you get ready all other mortgage documents relevant to property and payment.
Personal finance related documents
Income & assets
Your
mortgage broker in Calgary will need these documents for last two years regarding your income verification. Whether you are salaried, paid hourly, paid on commission basis or self-employed, you need to submit
Current payslip counterfoil.
Job letter on the company letterhead where you work with
oPay confirmation
oLength of service
Notice of Assessment from CRA (if self employed/paid on commission basis)
Other assets like
Any other property
oLatest mortgage statements.
oFor rental property with all documents, rental agreement etc.
Bank documents.
Brokerage accounts.
Social security award letter.
Pension statement.
Disability statement.
Divorce decree (if receiving support/alimony/property settlement).
Automobiles, boats etc.
bObligatory expenses
The lender will want to know how your income is spent through credit cards and other modalities - like direct debits etc.
Rent.
Student loan.
Child support.
Alimony.
Payment of personal loans for car and other appliances.
Credit card payments.
Documents on property for which mortgage is sought
Signed purchase offer including all amendments.
MLS listing.
Signed application for mortgage.
Cheque deposit copy.
Pre authorized debit form (if provided).
Appraisal agreement.
Privacy policy duly signed.
Mortgage borrower disclosure document - duly signed.
Insurance papers as needed.
Details about your lawyer.
Down payment related
You need to submit following documents to show how you accrued the down payment -
Proof of down payment.
If from bank savings, bank statement copies for past three months.
If from investments like stocks, bonds, three months investment statements with your account number and name.
If a family gift, gift letter from giver and bank statement supporting it.
If from sale of your property, current mortgage statement of that property and sale contract signed.
General
Personal identification with photo - like drivers licence.
Previous home addresses for the last two years.
Once you have assembled all these documents along with sufficient copies, your mortgage application process will get on speedily towards a very satisfying and successful conclusion thanks to
mortgage brokers in Calgary.
by: Agnes Medlow
Java Application Development: A Magnificent Way To Adorn Your Device Uk Entrepreneur Tier 1 Visa Application Form Implementation Of Oracle Technology & Applications 40 Mhz Pc Based Oscilloscope Suitable For Technical Application What Is Open Source Application Development? Clearing Doubts On Va Mortgage Loan Application Mobile Development Company To Exploit Mobile Application Market Mortgage Applications Decline - Is It The Right Time To Buy? Make Your Own Android Operating System Applications For Free Tips For Android Application Developers That Boost Their Apps Sale Has The Emergence Of Mobile Applications Revolutionized The Working Pattern Of Modern Enterprises? Various Aspects Of Android Application Development Truck Mount Carpet Cleaner A Right Choice For Challenging Applications