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Are you ready to start preparing to buy, but still not sure what the process looks like? Check Outline Financial’s mortgage application, it’s a great place to start!

Securing a pre-approval:

  • It’s important to understand the differences between a pre-approval and a rate hold
  • Banks often only do a “rate hold” and not a full deep dive into a client’s financials
  • As a mortgage broker, we fully underwrite the application, ensuring your income, down payment and credit all meet lender criteria
  • Moving forward without a full pre-approval can be dangerous
  • It’s important to ask the right questions to your lender

It’s important to note:

  • It’s not how much you qualify for, but how much you are comfortable paying on a monthly basis
  • Always start backwards from a budget

Be prepared BEFORE you start the process:

  • Ensure your income taxes are filed and up to date
  • Prepare a household budget
  • Plan for the unexpected (changes to family structure, employment, expenses)
  • Ensure all credit is paid as required (we can send you an application to check your credit if you need)

The list of documents you will need:

  • Current employment letter/paystub
  • Last 2 years T4s
  • Last 2 years T1 Generals and Notice of assessments
  • Proof of self-employment
  • Proof of all assets to be used for downpayment (bank statements, investment statements, proof of gifted funds)
  • Valid photo ID

Your mortgage professional will provide you with a list of documents required based on your own individual circumstances.

Talking to a real estate or mortgage professional can really help make everything you need clear and feel less overwhelming. We work with some of the top-rated mortgage companies in the city, such as Outline Financial, so let us know if you are ready to get in touch with someone and start the process!

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