The documents a lender or broker will ask for at pre-approval in Ontario, organised by how you are paid and where the down payment comes from.
⚖️ This is general information, not legal advice. It can't account for your specific situation. Use it to get oriented, then confirm the details with a licensed Ontario lawyer.
A pre-approval is only as good as what has been verified, and what gets verified is what you hand over. Lenders regulated by OSFI must verify income and the source of the down payment with reasonable rigour; brokers must assess suitability, which means seeing the same documents. This checklist lists what is asked for in almost every case, then adds the items that depend on how you earn, where the money comes from, and your status in Canada. Gather it before you apply, and keep the same package for your lawyer, who needs most of it again at closing.
Everyone
- Two pieces of government identification, one with a photo. Lenders verify identity, and so do lawyers under the Law Society's rules.
- Social Insurance Number, for the credit check.
- Your current address history for the last few years and, if you rent, your landlord's details.
- A list of debts with balances and payments: credit cards, car loans, student loans, lines of credit, support obligations.
- Ninety days of statements for every account the down payment sits in. Anti-money-laundering rules require large deposits to be explained.
- A void cheque or pre-authorised debit form for the account the payments will come from.
If you are salaried or hourly
- A letter of employment on company letterhead stating position, start date, salary or hourly rate and hours, signed by someone the lender can call.
- Two recent pay stubs.
- Last year's T4 and Notice of Assessment. Some lenders want two years.
If you are self-employed, incorporated or on commission
- Two years of T1 returns with all schedules.
- Two years of Notices of Assessment, and proof any balance owing to CRA is paid.
- Business registration or articles of incorporation.
- Financial statements or twelve months of business bank statements.
- Contracts and invoices if you are a contractor; a licence if you are a regulated professional.
If you are retired
- Pension statements and CPP and OAS letters.
- Last year's T4A slips and Notice of Assessment.
- Investment statements if income is drawn from savings.
Down payment from a gift
- A signed gift letter from the family member stating the amount, the relationship and that the money is not repayable.
- Proof the gift has landed in your account, or will before closing.
Down payment from selling your home
- The firm agreement of purchase and sale for the home you are selling.
- Your current mortgage statement, so the lender can see the equity.
- If the sale closes after the purchase, the lender will discuss bridge financing and needs both agreements.
Down payment from an RRSP
- The RRSP statement.
- The Home Buyers' Plan withdrawal form; the plan has its own eligibility and repayment rules.
If you are new to Canada
- Permanent resident card, work permit or visa.
- A credit report from your previous country, or twelve months of rent and utility payment history, in place of a Canadian credit score.
- Certified translations of any document not in English or French.
Once you have an accepted offer
- The signed agreement of purchase and sale with all schedules and amendments.
- The listing.
- For a condominium, the status certificate if the lender requires it.
- For a new build, the builder's agreement, all amendments and the warranty enrolment.
- Proof of fire insurance naming the lender, before funding.
How Treadstone Law can help
Missing Notices of Assessment and untraceable deposits cause more delays than anything else. Both are fixable in advance and almost impossible to fix on closing day.
Treadstone Law handles real estate matters on a transparent flat fee, with online intake and a real lawyer on your file, across Ontario.
- Start your file online at treadstonelaw.ca/start-file
- See flat-fee pricing at treadstonelaw.ca/pricing
- Learn more about our real estate services at treadstonelaw.ca/real-estate
- Or call us: 1-844-900-1070
This is not legal advice
This guide is general information, not legal advice. Reading it does not create a lawyer-client relationship. Ontario laws and government programs change, and how the law applies depends on your specific facts. For advice about your situation, speak with a licensed Ontario lawyer. Treadstone Law is licensed by the Law Society of Ontario — reach us at 1-844-900-1070 or start a file online.