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Welcome to my Website!!
This article is just for you to know what documents are needed so you can get them prepared for when I send you out the application. Keep in mind this is a generic list and not everything may apply to you but if you have please send as the more documentation I have the easier it is to get you the Absolutely the lowest mortgage rate out there.
Feel free to take a look around my site to get to know me better and if you have any questions just let me know.
Client Checklist
Income Verification – all of the following
- Last 2 years T4’s
- Last 2 years Notice of Assessments
- Last 2 pay stubs
- Current Job letter (last 30 days)
Down Payment Proof – Any of the following
- 3 month bank statements
- 3 month copies of GIC’s/RRSP/Other investments
- Recent HELOC Statement
- Gift Letter (I will get you a template)
Verification on property – All of the following if relevant
- Current property tax assessment – showing current year tax amount
- Current Mortgage Statement
- MLS listing sheet
- Final Offer to Purchase
- Up-to-date leases on all rental properties
- Lawyer details (Name, Address, Contact info)
- Condominium Financials – if required
- Void Cheque (account you want the money taken from)
Thank you for choosing TMG the Mortgage Group
Richard Moxley – Mortgage Consultant
Phone: 403.923.7485
Toll Free Phone: 1.877.318.4195
Toll Free Fax: 1.877.318.4196
Email: ricmoxley@shaw.ca
Alberta Mortgage Broker – Self Employed Documentation
Alberta Mortgage Broker – Self Employed Documentation
Everyone when looking at mortgage financing is looking for the best mortgage rates. This article is let you know what you need to have in order to get the absolute best rate from all the different mortgage companies out there. If you are going to get the loan from the bank or from an Alberta Mortgage Broker, it doesn’t matter most of the supporting documentation you will need is the same.
Income Verification
It doesn’t matter if you are looking for a subprime mortgage or a mortgage with one of the major mortgage companies they will want to see verification on income. It is a bit different for the self employed and the employed but the basics apply to both. Your Alberta Mortgage broker will need to see 2-3 years of job history. Check out the video for examples.
Proof of Down Payment
Major Banks and Alberta Mortgage Brokers have a responsibility to make sure that the money for the down payment isn’t fraudulent or from illegal sources. In order to this mortgage companies want to see 3 month history and explanations of where the money came from. If it came from a wedding present or it is just savings they’ll need to know that.
Property verification
In order to get the proper net worth and debt ratios in line Alberta Mortgage Brokers are once again will generally need to see confirmation of what your property is worth and what expenses are involved with your home. I do have access to certain lenders that will do online appraisals or that will allow your city assessment for proof of this but others will require a full appraisal. Property worth is the most important to subprime mortgage companies and if you are getting a second mortgage as they base most of their decision to give you a mortgage more on the worth of the property than on your personal credit and job.
Getting all the documentation is not easy but if you know what is needed and you keep the documentation ready in a separate folder you will guarantee yourself less headaches and betters service and rates when ever you work with a Mortgage Broker in Alberta. This video goes through all examples of typical documentation you will need. Check out other videos and important information at www.MortgageBrokerRate.com
