Posted: 1 Mar '21

What Documents Will You Need to Get a First-Time Home Buyer Mortgage?

What Documents Will You Need to Get a First-Time Home Buyer Mortgage?

Qualifying for your first-time home buyer mortgage is a critical part of the homeownership process. You need to provide several documents to your mortgage broker and lender. Read on for a comprehensive list of the documents you will need to get a first-time home buyer mortgage. Contact us to learn more.

Documents for Your Down Payment

A down payment is essential when applying for a first-time home buyer mortgage. The down payment from your own resources shows the lender you are committed to paying back your first-time home buyer mortgage.  


Canada’s Anti Money Laundering Act requires all down payment funds to be documented. Be prepared to show 90 days of bank statements/investment statements to prove you have accumulated your down payment over time. 

A 90-day Statement for RRSP or Investments 

As above, 90-day investment statements show the source of your down payment. Plan to withdraw funds from your Registered Retirement Savings Plan (RRSP) or an investment 10-15 days before you take possession.  

Gift Letter 

If one of your family members decides to gift your down payment, your broker will provide you with the appropriate gift letter to be signed by all parties. The bank will also require confirmation that the gifted funds have been deposited into your bank account.  

Different processes and documents will apply depending on the source of your funds. Contact your mortgage broker to find out which documentation will be required for your unique situation. 

Documents for Your Income 

If you’re employed, you need to provide these documents:  

  • Pay stubs to show your current salary or hourly wage rate as well as your Year-to-Date (YTD) income.  
  • A letter of employment to confirm your start date and guaranteed income. 
  • T4s or Notice of Assessments. 

If you’re self-employed, you need to provide the following documents: 

  • Articles of incorporation (if applicable) 
  • Full T1-Generals and Notice of Assessments for the last two years  
  • Business financials for the past two years 

Documents for Your Credit  

Your credit rating affects the type of first-time home buyer mortgage you qualify for. As a general rule of thumb, the higher the score, the better! First, obtain a copy of your credit report and fix any errors that may affect your first-time home buyer mortgage application. Second, look at your credit, including credit cards, secured and unsecured loans, auto loans, bills, and student loans. As you look at your credit, remember to also look into other debts such a spousal and child support if applicable.  

How Dominion Lending Centres Can Help  

Qualifying for a first-time home buyer mortgage requires documentation that shows your credit status, your down payment, and income. With the help of a qualified mortgage broker, you can compile all necessary documents and make adjustments before seeking lenders. Contact us today for direct assistance with your first-time home buyer mortgage.

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