Checklist For Documents
Items needed for US Customers
For Employed individuals that receive W-2 income the following items are needed:
- Last two year W-2’s and Federal Income Tax returns from all employment sources for all lessee’s (borrowers)
- Last two month paycheck stubs
- Last two month bank / investment statements
- Copy of ID and work authorization in US (passport, soc. sec. card, drivers license, visa, etc.)
- Copy of purchase agreement if available
For Self Employed or Individuals with some Self Employment income:
- Same items as above
- Last two year Federal Income Tax Returns for business and personal
- Last two month business bank statements
- CPA Letter
Items needed for Canadian Customers
For salaried and employed people:
- Most recent employment letter (With in the last 30 days)
- 3 or 4 most recent pay stubs
- Min 3 month bank statements showing pay is being deposited there.
- How much down payment and where it is?
- if down payment is in RRSP’s or other investments, 3 months history of those deposits. Butif down payment is in a bank account, 3 months history.
- If they have already bought the house, agreement of purchase and sale.
- Last 2 years of Notices of Assessment and T4’s for last 2 years
Please note that min down payment is 5%.
For Self employed people/ business owners/ taxi drivers/ truck drivers or store owners:
- 3 months self and business account statements
- Last 2 years of T1 Generals for self
- Last 2 years of statement business activities for the business
- Last 2 years of Notices of Assessments
- Copy of business licence (must be 2 years old ) — in some cases lenders make exceptions
- If this is a corporation, copy of articles of incorporation
Please note the minimum down payment is 10% for self employed.
General Instructions for submitting documents:
- All pages of statements must be included if they have a page number, even if they are blank or have generic text, so if for example your bank statements have a generic printed back and your page numbers indicate that only pages 1,3,5 have your account info on them then you will have to copy the back of page 1 and 3 and include those pages also.
- Whenever possible, please scan and email documents, if sending documents via mail, please do not staple and send only single sided copies.
- It is always best to scan ID’s as many times faxing a copy of a drivers license makes the picture unviewable the the text hard to read.