Transcribed from the Michal Sluka / Michael Huber YouTube Video – see below for written, condensed version.
1) Improve Your Credit Score
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Put bills on autopay ensuring on-time payment each month
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Keep credit balances below 30%
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Keeps tabs on your credit bureau. Check it regularly. Have all derogatory comments remedied and removed if possible.
2) File and Pay your income taxes
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There’s no way around this point.
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CRA takes legal precedence over any lending institution so no lender will give you a mortgage loan if you have unpaid taxes.
3) Gather Income Documentation
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Job letter (start date, position title, annual salary or hourly wage, guaranteed hours per week, HR contact
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2 Most Recent Paystubs
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2 years Canada Revenue Agency Notice of Assessment (NOT your property tax assessment)
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2 years T4s
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2 years FULL (not condensed) T1 General – business for self
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2 years Business Financials – incorporated
4) Understand your mortgage options
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Hire a professional mortgage broker
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Have them research your best mortgage options based on your specific situation