ACCEPTABLE TYPES OF DOWN PAYMENT SOURCES:

CHEQUING/SAVINGS ACCOUNTS

• Provide a 3-month history of bank statements
• The statements must have your name clearly indicated on them—or your account number, together with something that links your account number to your name, such as a void cheque from that account—internet statements are fine as long as we can prove ownership of the account number as most don’t have a name printed on them
• From larger deposits (greater than $1,000) that are not pay cheques—we need to provide proof of where they came from. For example:
• If you deposited a tax refund, we need the tax return—or Notice of Assessment—or ideally, a copy of the tax refund cheque
• If you transferred money over from a savings or investment account, we need to show 90 days savings or investment account history and the transfer our to this bank account

RRSP OR INVESTMENTS

• Provide a current statement of balance
• Provide the most recent quarterly statement, so combined we are showing the 90-day history

GIFTED DOWN PAYMENT

• Provide a standard form gift letter
• Provide a bank statement in your name, showing the matching gift amount being deposited into your account
• Provide confirmation of the funds from the gifter’s account by way of statement