What are mortgage requirements

Should I get a mortgage pre-approval?
Going through the pre-approval process will help you to determine how much you can afford before taking the final step of getting a mortgage. With pre-approved for a mortgage, a lender provides you with approval for an agreed interest rate and the total...
  • Services: 0
  • Rating: no reviews
How much will my mortgage down payment be?
Typically, your down payment will range from 5-20%. Most Canadians pay 20% of the property’s purchase price upfront, but it is possible to make a down payment below that percentage. You may need mortgage loan insurance to pay less than 20%, however. This...
  • Services: 0
  • Rating: no reviews
How much can I borrow for a mortgage?
You can determine how much you can borrow for a mortgage by making use of an online mortgage calculator through one of our vetted lenders.  By providing estimates of a mortgage term, interest rate, and your down payment amount, along with a figure for...
  • Services: 0
  • Rating: no reviews
What credit score do you need to get a mortgage?
As a minimum, lenders usually require a credit score of 600 and above, as well as a credit history of at least one year. Your credit score is an indicator of your financial health and plays a vital role in whether you qualify for a mortgage with a favourable...
  • Services: 0
  • Rating: no reviews
What personal information do I need to provide to get a mortgage?
Lenders will require basic personal information such as a valid government-issued ID or passport, proof of employment in the form of payslips, and proof of down payment.  If you are self-employed, speak to the lender to determine what sort of income...
  • Services: 0
  • Rating: no reviews
What are the minimum requirements to qualify for a mortgage?
While the minimum requirements to qualify for a mortgage vary from lender to lender, the common conditions include proof of a steady income and a credit score of 600 and above. There are exceptions to these requirements, however, if you are self-employed or...
  • Services: 0
  • Rating: no reviews
1 - 3 of 5
Company Search

Grow your finances today.

By submitting, you agree to comparewise’s terms of use and privacy policy.

Didn’t find an answer to your questions?

Send us your questions and we will get back to you.

Car loan?
Personal Loan?

Top deals await you just a short
application away!