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Documentation Required: To obtain a mortgae to purchase a Property
2015-11-20 09:55:01 Posted By Jila RezaiThis is the second of my three part series on documentation required to ensure your mortgage financing goes smoothly. Last time I focused on income documentation. This time I will discuss the documentation required on the property to be mortgaged.
If you are purchasing a new home, a mortgage broker requires:
- Real Estate Purchase Contract
- Real Estate Sale Contract (if applicable)
- MLS Listing with photo
- Confirmation of down payment
- Rental Income verification (if applicable)
- Gift Letter (if applicable)
If you are borrowing against your current home, the mortgage broker requires:
- Current mortgage balance statement
- Current Property Tax Assessment
- Current homeowners insurance policy
- Strata Form "B" (if applicable)
- Last 12 months strata minutes (if applicable)
- Rental Income verification (if applicable)
Next time I will discuss the documentation required for a down payment confirmation.
In the meantime, please feel free to contact me at 604-773-3599 if you have any questions regarding documentation requirements. I am here to help!
Source: Gibbard Group Financial