Canada First Mortgage - Calgary Alberta

The Mortgage Process

Applying for a mortgage can be overwhelming if you don’t have a complete understanding of the mortgage process. Our mission at Canadian Mortgage Experts - Canada First is to make this process as easy as possible.

The following are general examples of what you may expect from beginning to end of a typical mortgage transaction.

The Mortgage Application
» 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 credit bureau
Mortgage Supporting Documentation
» Employment Verification: A current Letter of Employment and pay stub will be required. You may also be asked to provide last years T4’s or Notice of Assessments for further history. If you are Business for self, you will be asked to provide your last 3 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 months of bank statements to verify an accumulated savings. If down payment will be by way of gift, donor must be an immediate relative and sign a gift letter verifying that the down payment will not have to be repaid. As well, you will be asked to provide proof of deposit of the gift funds into your account. If down payment will come from an investment, you will require your last statement verifying value of funds.
» Appraisal: You will require an appraisal of the property you are purchasing/refinancing if you have more than 25% down payment/equity as these are conventional mortgages and are not insured by CMHC.

Mortgage Approval
» Upon approval of all required documentation, you will be required to sign a mortgage approval form, provide a void cheque for payment withdrawal, and provide your lawyer information.
» Once you have satisfied all conditions, your lender will then forward your mortgage instructions to your lawyer, who will call you for an appointment to sign all of your legal documents.


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Canadian Mortgage Experts - Canada First
Dan & Stacey Mass
Calgary, Alberta
Direct: 403-650-6596

Fax: 1-866-377-4410

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