RBC-Mortgage Requirements

RESIDENTS:
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
  NON RESIDENTS:
  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
  Appraisers:
  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 |