Description

Bank statements can be requested for a number of reasons: they verify down payments, help prove your pay by showing paychecks are being deposited into your bank account, show CPP and OAS deposits, show condo fees, and / or confirm supporting deposits.

Tip

Make sure the bank statement(s) show your name, account number and a full / unaltered transaction history. If the down payment is in multiple accounts, or has been transferred from one account to another, bank statements are required for all included accounts.

How to obtain this

Log in to your online banking portal and download a PDF of your bank statement for the appropriate time period.

Description

A Tax-Free Savings Account (TFSA) is a type of investment account that allows Canadians to save money tax-free. Contributions to a TFSA are not deductible for income tax purposes. Still, any income earned in the account (such as investment income and capital gains) is generally not taxed, even when it is withdrawn. TFSA accounts can be used for various purposes, including saving for retirement, a major purchase, or building an emergency fund.

How to obtain this

From the borrower's online banking or paper bank statements from their financial institution.