What documents are required for a Canadian mortgage application

Canadian mortgage applications require specific documents to verify identity, income, assets, debts, and property details. Lenders use these to assess creditworthiness, affordability via stress tests, and down payment sources under 2026 OSFI and CMHC rules.

Proof of Identity

Government-issued photo ID is mandatory, such as a driver's license, passport, or provincial ID. A second form like a credit/debit card (front and back) confirms details match the application.

For newcomers or landed immigrants, include a Permanent Resident card, work permit, or immigration papers. Proof of address via utility bills or bank statements (recent 1-3 months) verifies residency.

Income and Employment Verification

Salaried workers need recent pay stubs (last 1-3 months), a letter of employment on company letterhead detailing position, salary, and start date, plus T4 slips and Notices of Assessment (NOAs) for the past 2 years.

Self-employed applicants submit T1/T2 tax returns, NOAs (2 years), business financials (income statements, balance sheets), business license, and bank statements showing deposits. Lenders average income over 2 years.

Other income sources require proof: rental agreements for tenants, T4As for commissions, or pension statements.​

Financial Assets and Down Payment

Provide bank statements (2-3 months) for chequing/savings, investment accounts (RRSPs, stocks), and asset lists (vehicles, properties). These confirm down payment funds and net worth.

For gifted down payments, a gift letter from the donor (no repayment expected) plus fund transfer proof is essential. Home Buyers' Plan RRSP withdrawals need statements.​

Debt details include credit card limits/statements, lines of credit, and loans to calculate TDS ratios.​

Property and Closing Documents

Submit the purchase agreement (signed offer), MLS listing if applicable, and property details like tax bills, condo fees, or heating costs. Lenders may order an appraisal.

Homeowners insurance policy (or condo equivalent) is required pre-closing. For rentals, lease agreements verify income offsets.​

Special Cases

First-time buyers: Pre-approval letter if switching lenders, FHSA statements. Refinancing adds existing mortgage statements.

Preparation Tips

Organize digital copies early—brokers streamline submission. Expect verification calls; discrepancies delay approval. In 2026, with tighter OSFI income caps, accurate docs are critical for passing the 5.25% stress test