If you are ready to apply for a mortgage, click on the button for a mortgage application form. Contact us with your questions. Your information is held in strict confidence and will only be shared for the purpose of your mortgage, for example, with potential lenders.
We may be able to get you financing without all of the information indicated below. But for best results, provide the best information that is available to you. Talk to us about your challenges with obtaining documents or documents that are not especially wonderful.
- Purchase and Sale Agreements, MLS listings, surveys, previous appraisals, photographs, previous environmental reports, and other relevant information. We suggest that you don’t dig too deep into ordering new appraisals and reports, and making purchase offers without including us in your process.
- A summary about the subject property. Location, past, present, and future uses, description of buildings and lands.
- Current rent roll (list of tenants, rents, and lease details). Lenders may confirm this information independently. Revenue and expenses for the property. Detail one-time expenses and expenses that lenders might find unusual.
- Property tax and utility bills. Are these up to date or unusual? Explain if there is something that will catch a lender’s attention. They worry about every little thing. We may need to include your arrears in your mortgage.
- Current mortgage statements in the case of refinancing and mortgage renewals.
- In the mortgage closing process, lawyers will search and confirm the property information you provide. Lawyers, generally, aren’t thrilled with surprises. Have you heard about last-minute loan cancellations? It happens because of last-minute surprises for the lender and lawyers. It is better to deal with challenges before your mortgage gets to them.
- A commercial real estate appraisal conducted by a reputable commercial appraisal service provider will be required in some cases (Please speak to us before ordering your appraisal). Note that commercial appraisals may take three weeks or even longer to complete. We need to get this process moving asap.
- Other relevant third-party, professional inspections may be required: environmental, health, your in-laws - everyone has an opinion!
- Sometimes you may be asked for information on the property management company, or the management team that is responsible for the day-to-day operations.
- We will also need a summary of your real estate portfolio: your properties, locations, proposed uses, approximate value, and encumbrances (debt secured by them). As with all the information you provide, we will use this information to attempt to lower lender risk and get you better pricing for your commercial and construction loans. If you wish to isolate the subject property from the rest of your portfolio let us know and we will work with that increase in risk to the lender.
- For each of the principals: Two pieces of personal ID such as a drivers licence, social insurance card, passport, citizenship card, credit card, etc. If there is something unusual about your ID, please let us know right away. If you are too important to provide ID, you are too important to borrow money from our humble lenders.
- Signed mortgage applications, signed net worth statements, and brief business biographies.
- Notice of Assessments (NOA) or T1 Generals for the most recent 2 years
- Proof of down payment for new purchases only
- Proof of source of down payment (only applicable on new purchases). You need to account for where your down payment or deposit is coming from
- Proof of any additional assets
- Current corporate documents for the company that owns or will purchase the subject property indicating current ownership.
Corporate financial statements along with relevant explanations of non-standard or missing items.
- Business Summary and history
- Proof of any additional assets