Transcribed from the Michal Sluka / Michael Huber YouTube Video – see below for written, condensed version.

1) Improve Your Credit Score

  • Put bills on autopay ensuring on-time payment each month

  • Keep credit balances below 30%

  • 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

  • There’s no way around this point.

  • 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

  • Job letter (start date, position title, annual salary or hourly wage, guaranteed hours per week, HR contact

  • 2 Most Recent Paystubs

  • 2 years Canada Revenue Agency Notice of Assessment (NOT your property tax assessment)

  • 2 years T4s

  • 2 years FULL (not condensed) T1 General – business for self

  • 2 years Business Financials – incorporated

4) Understand your mortgage options

  • Hire a professional mortgage broker

  • Have them research your best mortgage options based on your specific situation

One of my hobbies is blogging about mortgages, debt and government policy.  During the day I’m a MORTGAGE BROKER!

Check out the Huber Mortgage Home Buyers Guide HERE



Huber Mortgage logo black