Process7 min read
Mortgage Pre-Approval Checklist
What to prepare before talking to a lender.
A solid pre-approval makes house-hunting smoother and locks in a rate. Here's what your lender or broker will want to see.
Identity and basics
- Government-issued ID
- Social Insurance Number
- Current address and 2–3 years of address history
Income documents
- Recent pay stubs (last 30 days)
- T4s and Notices of Assessment (last 2 years)
- Self-employed: 2 years of T1 Generals + business financials
- Employment letter dated within 30 days
Assets and down payment
- Bank statements showing 90 days of down payment funds
- Investment statements (TFSA, RRSP, FHSA, non-registered)
- Gift letter if applicable
Debts and obligations
- Credit card balances and limits
- Car loans, lines of credit, student loans
- Child or spousal support
After you're pre-approved
Pre-approval is conditional — final approval still requires the actual property (appraisal, title, condo docs if applicable). Avoid big purchases or new credit applications until closing.
Key takeaways
- Pre-approval ≠ final approval
- Rate is held for 90–120 days
- Don't open new credit between approval and closing
- Have documents in PDF and ready to send same-day
Sources used
Disclaimer: This guide is for educational purposes only and does not constitute financial, mortgage, legal, or tax advice. Always verify details with qualified professionals and financial institutions.