By: Meridian Financial Services  09-12-2011
Keywords: Mortgage

One of the most important roles a broker will play in your approval process is assuring all of your documentation is in order. Some of the lending guidelines do have some flexibility, so don't assume if you aren't a perfect fit for the guidelines that you won't qualify for a mortgage. There are so many variables and one factor may tip the scales against you, while something else may act in your favour. Also, it is not always safe to assume that everything calculates fine, so therefore you are a "slam dunk". You probably are, but?There are grey areas in mortgage lending, just as in any other field and it is important to keep this in mind when you are playing around with mortgage calculators and general guidelines.

If you are a salaried employee, most lenders will require the following:

  • CONFIRMATION OF YOUR DOWNPAYMENT (If gifted - a gift letter and confirmation funds deposited into your bank account)

*The amount of information the lenders require can be based on amount of downpayment as well.

If you are a self-employed individual, most lenders require:


*Some lenders have special programs for self-employed people, so if you are self-employed or on contract, it is best to ask your broker for more details as there are many more variables than with salaried employees.

*Your broker may ask you for your documentation at pre-approval stage. Providing your documentation does not obligate you to the Broker (or the lender) but does assure your approval status and saves stress later on when you have found a home you wish to purchase.

Keywords: Mortgage

Other products and services from Meridian Financial Services


The Process

This welcome package will have contact names and phone numbers, in case you have questions about your mortgage, etc. although at this stage Meridian has connected you directly to your lender, your Broker will still be available should you have questions or need assistance in future dealings with your lender.