First-Time Buyer Mortgage Planning Guide › Chapter 3
What documents do I need?
By Rajiv Verma, Mortgage Broker · Mortgage Architects, FSRA Brokerage Licence #12728 · Updated November 3, 2026
Short answer: every lender wants to see who you are, what you earn, what you owe, and where your down payment came from. Gather these now, keep them in one folder, and your approval moves faster, with fewer surprises.
Tick each item as you collect it. Skip the sections that don’t apply to you.
What ID do I need?
- ☐ One valid government photo ID (driver’s licence or passport) plus a second piece of ID
- ☐ Your SIN, if you choose to give it (it helps match your credit file but isn’t required for a credit check). You don’t need to send the card, and never email a photo of it
- ☐ Current address and two years of address history
- ☐ Void cheque or pre-authorized debit form for your mortgage payments
What income documents do I need if I’m salaried or hourly?
- ☐ Job letter on company letterhead, dated within the last 30 days: your position, start date, salary or hourly rate, guaranteed hours, and whether you’re permanent and past probation
- ☐ Two most recent pay stubs
- ☐ Last two years of T4 slips
- ☐ Last two years of Notices of Assessment (NOA) from CRA
Extra if you earn bonus, commission or overtime: two years of T4s and NOAs showing it consistently, and a year-to-date pay stub.
What income documents do I need if I’m self-employed?
- ☐ Last two years of T1 Generals (full personal tax returns, all pages)
- ☐ Last two years of Notices of Assessment
- ☐ Proof your taxes are paid (CRA statement of account showing a zero balance)
- ☐ Business registration or Articles of Incorporation
- ☐ If incorporated: two years of company financial statements
- ☐ Recent business bank statements
- ☐ HST/GST returns, if registered
What if I have other income?
- ☐ Rental income: signed lease and proof of rent deposits; tax returns showing the rental income
- ☐ Child or spousal support: separation agreement or court order, plus proof of payments received
- ☐ Pension or disability income: current benefit statement
- ☐ Newcomers: PR card or work permit, and any foreign income or employment letters
What do lenders need for my down payment?
- ☐ 90 days of statements for every account holding your down payment (bank, TFSA, RRSP, FHSA, investments), showing your name and account number
- ☐ An explanation, with proof, for any large deposit that isn’t your regular pay
- ☐ Gift: signed gift letter from the family member, plus proof the funds are in your account (gift rules in Chapter 4)
- ☐ Home Buyers’ Plan or FHSA: recent RRSP/FHSA statement
- ☐ Sale of an asset (car, investments): bill of sale or statement showing the proceeds
Nobody told me this
Lenders want 90 days of history so they can see where your down payment came from. Moving money between accounts, depositing cash, or a transfer from a friend can all trigger questions. Keep everything traceable, and download statements as PDFs from your online banking. Screenshots usually aren’t accepted.
What do I need to show for my debts?
- ☐ Most recent statement for every loan, line of credit and credit card
- ☐ Car loan or lease agreement
- ☐ Student loan statement
- ☐ If you’ve had a consumer proposal or bankruptcy: discharge papers
What property documents will I need?
- ☐ Signed Agreement of Purchase and Sale, with all amendments and waivers
- ☐ MLS® listing for the property
- ☐ Proof of your deposit (bank draft copy or transfer receipt)
- ☐ Condo: status certificate and monthly condo fee amount
- ☐ New build: builder’s agreement, deposit schedule and any amendments
- ☐ Purchase Plus Improvements: written contractor quotes
- ☐ Your real estate lawyer’s name and contact details
- ☐ Proof of home insurance before closing
How do I avoid delays?
- Send complete documents: every page of a tax return or statement, even blank ones
- Make sure names match across your ID, pay stubs and bank statements
- Keep everything current: lenders usually want pay stubs and statements from the last 30 days
- Put it all in one folder (digital or paper) and update it monthly while you wait to buy
- Some lenders ask for two years of T4s and NOAs, others one; having both years ready saves a round trip
Frequently asked questions
Do I need two years of T4s?
Many lenders ask for two years, especially if you earn bonus, commission or overtime. Have both ready.
Are screenshots of my bank account accepted?
Usually not. Download full PDF statements from online banking that show your name and account number.
How recent does my job letter need to be?
Usually dated within the last 30 days of your application.
When do I need the property documents?
Once you have an accepted offer. Chapter 11 covers what happens next.
Next up · Chapter 4How much do I really need for a down payment?Continue reading →
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Rajiv Verma, Mortgage Broker · Mortgage Architects, FSRA Brokerage Licence #12728 · 15 Gateway Blvd, Unit 201, Brampton, Ontario · Office 289.505.0631 · Direct 647.291.7116
This guide is general education, not personal financial, legal or tax advice. Rates shown are examples as of November 3, 2026, for comparison only, and are not a quote or a commitment to lend. Your rate and approval depend on your application, credit, income, property and lender guidelines. Program rules can change.