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RBC-Mortgage Requirements

Posted by scotts on April 4, 2020

Financing: 80% under $1 Million, Max amortization 30yrs (or age 65)
Tiered Financing over $1 Million, Max amortization 30yrs (or age 65)
67% Financing on Vacant Land, Max amortization 15yrs (or age 65)
Professionals (Lawyers, Doctors, Accountants, etc.) max up to age 70

  • Completed and signed PSOA (Personal statement of affairs)
  • Current Job Letter, confirming current position, salary and length of service
  • Two months’ Pay slips confirming any deductions
    Financing: 65% under $2 Million
    50% Financing over $2 Million
    Max Amortization: 15yrs on Property/ construction (or age 65)
    Max Amortization: 10yrs on Vacant Land (or age 65)
  • Completed and signed PSOA
  • Three years Tax Returns (most recent)
  • Credit Report from Equifax or TransUnion (requested by RBC)
    Formal approval Residents & Non-Residents:
  • Two pieces of Government issued identification
  • Utility Bill (within the last 3 months)
  • Current Job Letter, confirming current position, salary and length of service
  • Purchase Agreement or Offer to Purchase
  • Updated Appraisal (within the last 6 months)
  • Construction: Fixed construction agreement signed by borrowers and contractor, copy of approved plans
    stamped by TCI Planning Department and copy of site plan
  • Insurance Confirmation (confirmation of Contractor’s all risk insurance)
  • Copy of the Land Register for property being purchased
  • Mortgage, Loan or Credit Card statements for one year (to confirm payment history)
  • Bank Statements confirming savings of down payment
    BCQS International – 649-946-4238
    Construction Advisory Services Ltd. – 649-941-3663
    Concept Plus- 649-941-8200
    For More Information, please contact:
    Arlene A. Deveaux – Mobile Mortgage Specialist |

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