Example Documents

At Torres Mortgages, I like to provide my clients with the smoothest experience possible! Here are some SAMPLES of the documentations I would ask from you during the application mortgage process:

Income Documents
Corporate Documents
Property Documents
Down Payment Documents
Purchase Documents
Liquid Assets Documents
Other Documents

The information and services offered on this Site are provided with the understanding that neither Dominion Lending Centres Inc., nor its suppliers or users are engaged in rendering legal or other professional services or advice. Although I strive for accuracy, timeliness and completeness, information quoted is not guaranteed and may change at any time and the information you obtain at this site is not, nor is it intended to be, legal advice. If you require specific advice regarding your own situation please contact me for consultation.

Income Documents

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​Job Letter from Employer

States the following: the position, length of employment, salary or wage, bonus component, and HR contract. The job letter has to show the company letterhead and must be signed. If you are on a contract, please send over a copy of the contract as well.

Two Recent Paystubs

Your pay stubs should show your employment earnings and any deductions over a specified pay period. Lenders look at your pay stubs as an additional source of income verification. The pay stubs must be recent, within the last 30 days, and can be obtained by your employer. 

​​Most Recent 2 Years T4/T4A

A T4, also known as a Statement of Remuneration Paid, is a document that summarizes all the total earnings your employer paid you during a calendar year. The T4 will show any CPP, EI, and other payroll deductions taken for that tax year. Most lenders will require your T4 to confirm your past employment and earnings.

A T4A, also known as a Statement of Pension, Retirement, Annuity, and Other Income, shows a record of your earnings from being self-employed and will not show your CPP or EI deductions. If you’re on a pension and on old age security benefits, it will be your T4A(P) and T4A(OAS).

These documents are needed if you earn commission or bonuses, are self-employed, or have a pension.

Most Recent 2 Years T1 – General

​​The T1 General Form is also called the Income Tax and Benefit Return. It is usually a four-page document used by Canadians to file their personal income taxes. Individuals with tax payable during a calendar year must use the T1 to file their total income from all sources, including employment and self-employment income, interest, dividends, capital gains, rental income, and so on. 

This form summarizes all the taxes you pay, your income (total, net and taxable), deductions, non-refundable credits and balance owing—or refund if you’re lucky. The deadline to submit your T1 to the CRA and any taxes owed is by the end of April. 

If you are self-employed, lenders typically will need two years of T1 General Tax Returns to confirm that you are filing as a self-employed individual. Sometimes, certain expenses can be “added back” to your income to help qualify you for better financing. 

​​Most Recent 2 Years of Notice of Assessments

A Notice of Assessment is usually a one or two-page annual statement of your tax return that Revenue Canada sends back to you every year after you file your tax return.

It will either contain a refund cheque or a bill for your outstanding taxes for the previous tax year. It will include the date, your full name, SIN number, tax year and tax centre clearly indicated in the top row of the page.

Leaders need the NOAs to confirm if there are taxes owed to Revenue Canada. It is essential because any tax arrears could be placed on the title of your home and take priority over any mortgage financing in the sale of the property.

If you owe any taxes, you must pay that off before the lender advances the mortgage funds. You will also need to provide proof that they are paid off. 

The second reason why lenders need your NOAs is to confirm your taxable income as per line 150.

Statement of Business or Professional Activities

The Statement of Business Activities (T2125 tax form) is used to calculate your business or professional income as a self-employed person. Use it if you are the only person in the business (sole proprietorship) or if you are in business with one to five other people (partnership).

1. You are self-employed if you control the time, place, and manner of performing your activities; supply your own equipment and tools, and assume the rental and maintenance costs; make a profit or incur a loss, and cover operating costs; and integrate your client’s activities into your own business activities.
 
2. You are an employee if your employer decides where, when, and how the work is to be done; establishes your working hours; determines your salary amount; supervises your activities; and assesses the quality of your work.
 
Why do lenders require a statement of business activities?
It is used to identify which write-offs could potentially be added back to an applicants income. You calculate your gross income and your net income after deducting all your business expenses like advertising, rent, home office.

Can be found in the T1 General but can also be received or completed through an accountant, tax company (ie H&R Block) or by the individual for submission of their personal taxes to Revenue Canada. 

Corporate Documents

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Certificate of Incorporation
Registrar of Directors
​​Last 3 Year Financial Statements

​(prepared by a professional Accountant)

Property Documents

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Municipal Property Tax Notice For Your Residence

(MUST show what you pay for taxes.)

Recent Mortgage Statement For All Properties Owned

(Must show: balance, payment, rate and property address. Most recent Annual statement should have the necessary info.)

Recent Line Of Credit / HELOC Statement Secured To A Property

​(Must show: balance, rate, minimum payment and property address.)

​Current Leases For All Rental Properties And Suites

​​(Must be signed by landlord and tenant and include all pages. Mortgage details, property tax info and strata fee confirmation (if applicable) for any recent property purchases not on your T1.)

Down Payment Documents

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90 Day History Of Bank Statements For Any Down Payment Funds

(For Savings, TFSA, RRSP, Mutual Funds, ETC. Must show name, account type and balance.)

Recent Line Of Credit Statement

(Must show property address, balance, interest rate, minimum payment and your name.)

​​Gifted Funds

Copy of the attached…

Gift Letter

 Completed and signed.

Bank and Online Statement

Showing the gifted funds being deposited into your account.

Sale Of Existing Property

With confirmation of subjects being removed.

Copy Of The Vendors Statement Of Adjustments

Received from your lawyer.

Proof Of The Funds

Being deposited into your bank account.

Purchase Documents

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Copy Of Contract Of Purchase And Sale


Full Realtor Version Of The MLS Listing
Property Disclosure Statement
Strata Form B
Last 2 Years Annual General Meeting Minutes

Liquid Asset Documents

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Recent Statements For All Liquid Assets

(May be via paper statements or online printouts but must show your name and the account number: (Savings, TFSA, RRSP, Stocks, Bonds, Mutual Funds, etc.)

Other Documents

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​Copy Of Your Separation Agreement

(To show any alimony or child support payments)

​1 Piece Of Government Issued Photo ID

(for Drivers License (it MUST have both front and back).

​2nd Piece Of ID

It can include your driver’s license, provincial identification card, care card, passport, SIN card, credit cards, birth certificate, etc. One of your pieces of identification must be a photo ID.