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Mortgage Pre-Approval Checklist

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Get Prepared Before You Start House Hunting

Getting pre-approved for a mortgage is one of the smartest first steps when buying a home. It gives you a clear understanding of your budget, strengthens your offer, and shows sellers you are a serious buyer.

Preparation makes the process smoother and faster. Below is a simple checklist to help you get ready.

✅ Personal Identification

Lenders will require valid identification to verify your identity:

  • Government-issued photo ID (Driver’s License or Passport)

  • Social Insurance Number (SIN)

  • Proof of residency or status (if applicable)

✅ Proof of Income

Your lender needs to confirm stable and sufficient income. Be prepared to provide:

If Employed:

  • Recent pay stubs (last 2–3 months)

  • Employment letter confirming position, salary, and length of employment

  • Last two years of T4s

  • Last two years of Notice of Assessments

If Self-Employed:

  • Last two years of personal and business tax returns

  • Notice of Assessments

  • Business financial statements

  • Articles of incorporation (if applicable)

✅ Down Payment Verification

You must show proof of where your down payment is coming from:

  • 90 days of bank statements

  • Investment account statements (RRSP, TFSA, etc.)

  • Gift letter (if funds are gifted by family)

  • Sale agreement of existing property (if applicable)

✅ Credit & Liabilities

Lenders will review your credit profile and debt obligations:

  • List of current loans or credit cards

  • Vehicle loans or lease agreements

  • Student loans

  • Line of credit balances

  • Monthly payment obligations

Tip: Avoid making major purchases or opening new credit accounts before final mortgage approval.

✅ Existing Property (If Applicable)

If you currently own property, provide:

  • Mortgage statement

  • Property tax statement

  • Condo fee details (if applicable)

  • Rental income documentation (if applicable)

Why Pre-Approval Matters

A mortgage pre-approval:

  • Confirms your maximum purchase price

  • Locks in an interest rate (typically for 90–120 days)

  • Strengthens your offer in competitive markets

  • Speeds up the buying process

  • Prevents disappointment by keeping your search within budget

Final Tip Before You Apply

Keep your financial situation stable during the home buying process. Avoid changing jobs, increasing debt, or moving large sums of money without speaking to your lender.

Ready to Take the First Step?

Getting pre-approved puts you in a strong position when the right home becomes available. If you need trusted mortgage professionals or guidance through the process, Bella Amangyen can connect you with reliable lending partners and help you move forward confidently.

Start your home buying journey prepared and informed.