When you apply for mortgage pre-approval, lenders want proof that you can afford the loan. Submitting the right paperwork from the start makes the process smoother and can help you lock in a rate faster. Whether you use a bank or an online mortgage broker in Canada, the requirements are mostly the same.

1. Proof of income

You’ll need to show how much you earn and that your income is stable. Common examples include:

  • Recent pay stubs (last two)
  • T4 or T4A slips
  • Most recent Notice of Assessment (NOA) from the CRA
  • Employment letter with position and salary

If you’re self-employed, lenders will ask for two years of full tax returns and business financial statements.

2. Identification

Lenders must verify who you are to comply with Canadian regulations. Bring one or more pieces of valid photo ID such as:

  • Passport
  • Driver’s license
  • Permanent resident card

Make sure the ID is current and matches the name used on your mortgage application.

3. Proof of down payment

You’ll need to show where your down payment is coming from. Examples include:

  • Recent bank statements showing savings
  • Investment or TFSA statements
  • Gift letter from a family member (if applicable)

If your down payment was gifted, the letter should confirm that it’s not a loan and doesn’t need to be repaid.

4. Details of debts and assets

Lenders need a full picture of your finances. You’ll be asked for:

  • Credit card balances
  • Car loans or leases
  • Student loans
  • Investments, RRSPs, or other assets

Having accurate numbers ready can help your mortgage advisor find the best options for you.

5. Consent for a credit check

All lenders require your permission to pull your credit report. This allows them to see your repayment history, debt levels, and credit score. A higher score may qualify you for better rates and more flexible mortgage terms.

Tips to make the process faster

  • Upload clear, up-to-date documents.
  • Double-check that all pages are included (especially for PDFs).
  • If you’re unsure, your Homewise advisor can confirm exactly what’s needed before submission.

Being organized helps your pre-approval move faster and improves your chances of getting a competitive rate. Having these five documents ready shows lenders that you’re serious and financially prepared.

FAQs

1. Do I need all documents before I start my pre-approval?

Yes. Submitting a complete package helps lenders process your application more quickly.

2. What if I can’t find an old NOA?

You can download it directly from your CRA My Account online.

3. Do both applicants need to provide these documents?

Yes. Each borrower listed on the mortgage must share their own proof of income, ID, and credit details.

4. How recent should my documents be?

Within the last 30 to 60 days is ideal.