Easy Mortgage Approvals for those in Markham and Oshawa Ontario
We are here to help.
Getting approved for a mortgage in the Markham and Oshawa areas could likely be one of the most important steps in your home buying process.
If you weren’t already pre-approved, you’ll begin your mortgage approval process after you’ve made your Offer to Purchase and your offer has been accepted. Your Offer to Purchase will be conditional on financing, which means you need to secure your mortgage approval before you can move forward with your home purchase. This is where the Mortgage Den Team can help.
Mortgage Approval Process Highlights
The mortgage approval process is not overly difficult but there are items we will need to help make this a smooth process. Specific details about the home you’re purchasing, along with your income and down payment details.
Some of the documents you may need to provide include...
- Current employment income from a T4, pay slips or signed letter from your employer
- Other sources of income such as investments, rental income, or freelance income
Down payment information:
- If you are using your own funds: savings or investment statements from the last 90 days
- If you are using the Home Buyers’ Plan (HBP): proof of withdrawal from your RRSP
- If you are using a gift from a family member: a letter stating the money is not a loan
- The deposit amount that was included with your Offer to Purchase
- An inventory of your current assets and liabilities such as investments or car loans
- A void cheque to setup mortgage payment withdrawals
Details about the home:
- The address
- The closing date
- Property tax, condo fees and heating cost estimates
- A copy of the real estate listing
- A copy of the accepted Offer to Purchase agreement, including the exact purchase price
- A copy of the home appraisal, home inspection and/or land survey
- Your lawyer’s name, address and phone number