OTHER PROPERTIES (RENTAL and SECONDARY HOMES)

• Copies of current mortgage statements (up to date)
• Copies of existing leases and letters of renewal/rent increase
• Complete tax report for the last two fiscal years
• Copies of municipal taxes for the current year
• Copies of school taxes for the current year
  • These documents are required to be up to date and reflect the current expenses (and revenue when applicable)
  • They also show who is on the title and the mortgage.

• Your real estate portfolio is part of your financial portrait
• Your mortgage application includes your revenues and expenses from your investment rental properties 
  • The excellent news, profit-generating properties usually improve the overall quality of the mortgage application

RELATED LINKS

5 Smart tips about closing costs
Source: Mortgage Architects

Congratulations! You're a home owner. Your offer has been accepted and your home is closing soon...Now what? ...more

To buy or not to buy?
Source: Mortgage Architects

If you can afford to rent, chances are that you can afford to buy. Start building equity for your future by putting your monthly rent toward a monthly mortgage payment! ...more