How a file moves
You send the papers you already have, or you book a call and gather them after. MKG reads the balance, the income, and the property, then places the file with a lender that fits. The lender decides. The lists below are free to print. There is no email gate.
- The first call sorts the file: purchase, refinance, renewal, or a business purpose. It is free, and it is not an approval.
- The documents on the matching list come in. Missing pages are named, rather than guessed.
- The file goes to a lender. You see the conditions they set, including any penalty if a term is being broken.
- The lawyer closes. MKG stays on the file until the mortgage is registered or the renewal is signed.
How we're paid: The lender pays the broker on most residential mortgages, and any alternative/private-lending fees are disclosed upfront in writing.
Purchase documents
Print this list when an offer is being written, or when a condition of financing is already on the clock.
- Government photo identification for each borrower.
- Agreement of purchase and sale, including schedules and the condition dates.
- Down payment records: the accounts the money sits in, and a short trail if it moved recently.
- Employed income: a job letter and recent pay stubs. Variable pay needs the history the lender asks for.
- Self-employed income, if that is the file: notices of assessment, T1 Generals, and the business statements. Use the self-employed list as well.
- List of monthly debts, with balances and the payment that actually leaves the account.
- Property tax, and the condo status certificate when the purchase is a condo.
- A separate note for land transfer tax and legal fees, so the down payment is not the only cash in the plan.
Self-employed documents
Print this list for a file where the income is from a business. Stated-income programs still want these records.
- Notice of assessment for the years the program asks for, often about two years.
- T1 General for those same years, including the T2125 statement of business activities.
- Business financial statements, if you have them, and business bank statements.
- Business registration, articles, or the licence that shows who owns the business.
- A short note of add-backs you think the return supports. The lender decides which ones count.
- Personal identification, the down payment trail, and the agreement if a purchase is underway.
- Line 15000 left visible. It is not removed to make the file look simpler.
Refinance documents
Print this list before anyone talks about a new payment. The penalty is part of the math.
- Current mortgage statement: balance, rate, payment, maturity date, and the lender's name.
- A payout or penalty quote from that lender if the term is not over.
- Property tax bill and, for a condo, the status certificate.
- What the new money is for, written in a sentence, and the statements for any debts being paid out.
- Income documents for each borrower, the same set a purchase would need.
- A reason the refinance is better than waiting for renewal. If the penalty is larger than the benefit, say so on the page.
Renewal documents
Print this list when the maturity letter arrives. Do not sign the letter as the first step.
- The renewal offer from the current lender, with the rate, term, payment, and deadline.
- The mortgage statement, so the balance and the remaining amortization are the ones on paper.
- Income documents if you want the mortgage looked at by another lender, not only the current one.
- Other debts, if the question is really a refinance rather than a straight renewal.
- The privilege and penalty section of the current contract, in case the plan is to break the term early.
- The date you must answer the current lender, written at the top of the page.