(EN)
Mortgage Documentation Checklist
Talk To A U.S. Mortgage ExpertBuying a home in the U.S.?8 We’ve got you covered – from checklists to closing.
Buying your first U.S. home can be overwhelming, which is why our team of cross-border mortgage advisors is here to help you navigate the process. Plus, we don’t charge bank – or lender – fees on U.S. mortgages, which could save you up to $4,500 USD in closing costs.42
Below is a list of the documentation you may be asked for once you’re under contract to purchase a home. It’s important to note that you don’t need any documentation to prequalify and that this is a generic checklist. Your RBC Bank Cross-Border Mortgage Advisor will provide you with a customized checklist for your individual situation.
Citizenship and immigration documents
- Copies of your passport and/or work visa
- Social Insurance Card and/or U.S. Social Security Card
Confirmation of income
How we help:
- Pay stub reflecting 30 days’ and year-to-date income
- Most recent two years of T4 (Canadian statement of remuneration) and/or W2 forms (U.S. wage and tax statement)
If you're self-employed or own investment properties
- Most recent two years of T1 (Canadian personal tax return) and/or 1040 Form (U.S. individual income tax return) including all schedules
- Most recent two years of T2 (Canadian corporate tax return form) and/or Form 1120 (U.S. corporate business return form)
- Trust documents (if applicable)
- In an LLC/HoldCo, articles of incorporation and attorney opinion letter (if applicable)
- For those who own two or more businesses:
- An organizational chart showing company structure and your percentage of ownership
If you're retired (or have retirement income)
- Verification of retirement income, including pension statements and T1 General
Purchase agreement
- For purchases under contract, a copy of the executed Purchase Contract as well as all addenda
Existing mortgage and property statements
- Most recent mortgage and line of credit statements for all properties owned in Canada or abroad
- Most recent insurance, property tax and HOA/condo fee statements for all properties owned in Canada or abroad
Account statements
Most recent two months of statements for each account you hold for the account types below. Statements must include your name, account number, all pages, bank name, beginning and ending balances and time period.
- Personal checking and savings
- Line of credit if you are using those funds to close on your new home
- RSP accounts (registered and/or non-registered)
- Investments/brokerage if using for funds to close on home
Insurance documents
- Homeowner’s insurance policy
- Flood/hurricane/wind insurance policy if required