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Frequently Asked Questions
- What is the application process like?
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The Mortgage Process
- You will be required to provide some personal information such as name, address, SIN numbers and birthdates.
- Employment information, duration, and salary.
- Current mortgage information (if applicable).
- Assets and Liabilities.
- Authorization for access to your credit bureau.
- Employment Verification: A current Letter of Employment and pay stub will be required. You may also be asked to provide last year's T4 or Notice of Assessments for further history. If you are business for self, you will be asked to provide your last 2 years of Revenue Canada Notice of Assessments and possibly financial statements for your company.
- Purchase Agreement (if applicable).
- MLS listing or Feature Sheet (if applicable).
- Sale Agreement for your current home and mortgage statement (if applicable).
- Condo Financial statements (if applicable).
- Down Payment: If down payment is coming from a savings account, you will require the last 3
Applying for a mortgage can be overwhelming if you don't have a complete understanding of the mortgage process. Our mission at Viva Lending Group is to make this process as easy and as straightforward as possible.
The following are general examples of what you may expect from beginning to end of a typical mortgage transaction.
Step 1: The Mortgage Application
Step 2: Mortgage Supporting Documentation