David Khan

Pre-approvals are based on your employment and income information, your debts or monthly obligations, and your credit history, down payment amount, and the property value.

What you will need to prepare for a pre-approval:

• Proof of employment and current salary or hourly pay rate (for example, a current pay stub and a letter from your employer)
• Position and length of time with the organization
• If self-employed, bring your Notices of Assessment from Canada Revenue Agency from the past two years
• Proof that you can pay for the down payment and closing costs
• Recent financial statements (bank accounts, investments)
• Information about your other assets, such as a car, cottage, or boat
• Information about your debts or financial obligations
• Credit card balances and limits, including those on store credit cards
• Child or spousal support amounts
• Car loans or leases, lines of credit, student loans, and other loans
• Government-issued identification