New to Canada? Your Mortgage Document Checklist

Buying your first home after moving to Canada is absolutely possible. Lenders just ask for a few extra documents, because you don't have a Canadian credit history or tax returns to show them yet.

Every lender is a little different, so treat this as the list I'd start gathering, then we'll fine-tune it for your situation.

Proof of your status in Canada

Your lender needs to know you're legally allowed to live and work here.

• Permanent residents: your PR card, or your Confirmation of Permanent Residence (COPR) if the card hasn't arrived yet.
• Work permit holders: your valid work permit. It needs to have at least 183 days left on it, so check your expiry date before you apply, and tell me if it's close.
• Everyone: your passport.

Identification

All lenders require two pieces of ID, and one must be government-issued photo ID. Your passport is usually the photo ID. You'll also need your Social Insurance Number (SIN).

Proof of income

• Letter of employment on company letterhead, signed and dated within the last 30 days, with your position, start date, hours and pay.
• Your offer letter or employment contract, especially if you've just started the job.
• Recent pay stubs (the last 30 days).
• T4s and Notices of Assessment, if you've already filed a Canadian tax return. If you haven't been here long enough to have them, that's okay. Tell me your start date and we'll see which lenders fit.

Credit history

Credit history from your home country doesn't transfer to Canada, so you'll start fresh here. Having credit already set up, like a credit card, a phone plan and a bank account in good standing, helps. If you don't have any yet, ask me before applying for several cards at once.

Proof of your down payment

This is where newcomers most often need extra paperwork, because the lender has to see where the money came from.

• Bank statements showing the funds for the last 90 days or more.
• Proof of funds transferred from abroad: your statements from the sending account and the Canadian account that received it, so the money can be traced.
• Gift letter if a family member is helping, signed by the giver and stating the amount is a gift and not a loan.
• Proof of the source if the money came from selling a property or other asset overseas.

Newcomers often need a larger down payment than someone who has been here for years. How much depends on your status, how long you've been in Canada and the lender.

Property documents

Once you have an accepted offer, I'll also need the purchase and sale agreement and the listing. If it's a strata property, I'll need the strata documents as well.

Start early

The more of this you can gather before you find the home, the easier it is to make an offer with confidence. Reach out and we'll go through your situation, and I'll tell you exactly what your lender will want. You can also read the full mortgage documents guide.