Mortgage Guide
The paperwork a lender or broker will ask for, why each item is needed, and how the list changes if you are salaried, self-employed, getting a gift or new to Canada.
The fastest way to slow down a mortgage is to send the wrong paperwork, or half of it. This page lists the documents needed for a mortgage in BC, explains why the lender wants each one, and sorts them by situation so you only collect what applies to you.
The core list comes from the Financial Consumer Agency of Canada (FCAC). The identity rules come from FINTRAC, Canada's financial intelligence agency. The down payment rules come from CMHC. Each lender adds its own requirements on top, so treat this as the baseline, not the whole list.
FCAC says that when you apply for preapproval, a lender asks for:
For employment, FCAC gives examples: proof of your current salary or hourly pay rate, such as a recent pay stub, and your position and length of time with the employer. The lender may also ask for recent statements from bank or investment accounts. For debts, it wants your monthly payments on credit cards, support payments, car loans, lines of credit and student loans. These feed straight into the debt ratios that decide how much you can borrow.
FCAC also says the lender will likely run a credit check. It is worth pulling your own credit report before you apply so there are no surprises.
Since October 11, 2024, mortgage brokers, mortgage lenders and mortgage administrators have been reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. FINTRAC says they must verify the identity of the people they deal with, keep client-identification records and run a compliance program.
For a person, FINTRAC's allowed methods include government-issued photo ID that is authentic, valid and current, a Canadian credit file that has existed for at least three years, or a dual-process method using two separate reliable sources. In practice, have one current government photo ID ready, such as a driver's licence or passport, with the name matching your application. An expired card will usually be turned back.
This applies to us as a brokerage too. When we ask for ID at the start, it is a legal requirement, not extra red tape.
| Situation | What to gather | Why |
|---|---|---|
| Everyone | Government photo ID; current address; list of debts and monthly payments; list of assets | Identity rules; debt ratios; net worth |
| Salaried or hourly | Recent pay stub; employment letter showing position, pay and start date | FCAC's proof-of-employment examples |
| Self-employed | CRA notices of assessment for the past 2 years; tax returns behind them | FCAC lists the NOAs; lenders read the returns to see how income is built |
| Down payment from savings | Recent statements for the accounts holding it | FCAC: proof you can pay the down payment and closing costs |
| Down payment from a gift | Signed gift letter; statement showing the deposit | CMHC accepts non-repayable gifts from a relative |
| Selling a home first | Accepted offer or firm sale contract; current mortgage statement | Shows the sale proceeds you are counting on |
| Buying a specific property | Accepted offer; MLS listing; strata documents if a condo | The lender approves the property as well as you |
For a salaried borrower past probation, a recent pay stub and an employment letter usually carry most of the file. Variable pay is different. Lenders commonly want to see a history of bonus, commission or overtime before they count it, which often means tax documents as well as pay stubs. If a large part of your income is variable, ask early which years of history the lender will use.
A new job is not a deal-breaker, but it changes what the lender reads. Expect questions about probation, whether you are in the same line of work and whether pay is salaried or commission. Tell your broker before you resign, not after.
FCAC lists notices of assessment from the Canada Revenue Agency for the past two years for self-employed borrowers. The notice of assessment shows what the CRA assessed, and whether you owe tax. Lenders commonly also want:
The gap between gross revenue and the income on your returns is what limits most self-employed approvals. Our self-employed mortgage page covers how that plays out with different lenders.
For an insured mortgage, CMHC lists traditional down payment sources as savings, the sale of a property, or a non-repayable financial gift from a relative. Borrowed down payments, such as unsecured personal loans or lines of credit, are allowed only in limited cases and cost more to insure. The size of down payment you need is covered in how much down payment do I need in BC.
Lenders also want to see the gift arrive in your account before closing. If you are using FHSA savings or an RRSP withdrawal under the Home Buyers' Plan, bring the latest account statements. Our FHSA and Home Buyers' Plan guide explains the withdrawal rules.
Newcomers need the same core list, plus documents that show status and history. Lenders typically ask for a permanent resident card or confirmation, or a work permit for non-permanent residents, along with Canadian employment proof. If you don't have a long Canadian credit history, some lenders accept other evidence of paying bills reliably. One CMHC rule to know: non-permanent residents are not eligible for borrowed (non-traditional) down payments on insured mortgages. See our new to Canada mortgage page for how we approach these files.
Gathering everything before your first call makes a pre-approval faster and more reliable. If you are not sure which items apply to you, ask us and we will send a list for your situation.
FCAC lists identification, proof of employment, proof you can pay for the down payment and closing costs, information about your other assets, and information about your debts or financial obligations. Self-employed borrowers are also asked for Canada Revenue Agency notices of assessment for the past two years.
Since October 11, 2024, mortgage brokers, lenders and administrators are reporting entities under Canada's anti-money-laundering law and must verify the identity of the people they deal with. A valid, current, government-issued photo ID is one of the methods FINTRAC allows.
Expect to provide notices of assessment from the CRA for the past two years, which FCAC lists for self-employed borrowers. Lenders commonly also ask for the full personal tax returns behind those notices and, if you are incorporated, the company's financial statements.
Yes, if it comes from an acceptable source. CMHC treats a non-repayable financial gift from a relative as a traditional down payment source for an insured mortgage. Lenders usually want a signed gift letter confirming the money does not have to be repaid, and proof the funds have reached your account.
Recent enough to show your situation today. FCAC's examples include a recent pay stub and recent statements from bank or investment accounts. Lenders set their own cut-offs, so ask before you gather everything, and expect to update documents if your file takes a while.
Rules as of October 2026, from FCAC (preapproval page modified October 15, 2025), FINTRAC (mortgage sector page modified February 20, 2025) and CMHC.
This is general information, not financial advice. Speak to a licensed mortgage professional about your situation.
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