Posted: 15 Mar '19

What Documents and Paperwork will You Need to Get Started on Your First-Time Mortgage?

You've saved up a down payment, researched the market, and figured out how much you can afford to pay for your first home. Now you're ready to get pre-approved for a mortgage, right? Not so fast. First, you'll need to gather a few important documents to support your application. Here's what you'll need to obtain a first-time mortgage.

Proof of Employment

When applying for a first-time mortgage, prime lenders will want to see that you have been employed continuously for at least two years. If you are a full-time employee, proof of your employment can be provided in the form of a letter of employment. If you are self-employed, you'll need to provide your T1 Generals with Statement of Business Activities for the last 2 years, your CRA Notices of Assessment for the last 3 years, a Statement of Business Activities, and articles of incorporation if your business is incorporated.

Bank Statements

The second thing you'll need to provide when applying for a first-time mortgage is a 3-month history of your banking transactions. Lenders want to see that the money you're using as a down payment has been in your account for at least 90 days. The only exception to this is if you got the money from the sale of an asset (such as a car), a loan, or as a gift. In these cases, you must disclose to the lender the source of the money.


Most lenders will want to see your last two paystubs when considering your application for a first-time mortgage. Your paystubs must show your name, the name of the company, and all income tax deductions.

T4s For the Previous Tax Year

To get a first-time mortgage, you'll need to show T4s for any employment income you received during the previous tax year. You can obtain a copy of your T4s online from your CRA account or request that the CRA send you a copy by mail. Keep in mind, though, that it may take 4-6 weeks to receive a mailed copy.

Gathering the right paperwork ahead of time is the key to faster mortgage approval and a less stressful home buying experience. Contact us for assistance in organizing all of the necessary documents for your first-time mortgage.

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