Income Verification Checklist for Ontario Mortgage Applicants

Documents by Income Type

• Salaried Employees: A copy of your most recent pay stub plus a signed, dated Employment Letter on company letterhead confirming your job title, base salary, and that you have completed any probationary periods.
• Hourly, Commission, or Contract Workers: Your last two years of Notices of Assessment (NOAs) or T4 slips to verify income stability, along with a corporate letter outlining employment terms.
• Self-Employed Individuals: Two years of full T1 General tax returns, two years of official federal Notices of Assessment (NOAs), business registration/incorporation articles, and two years of accountant-prepared corporate financial statements (if incorporated).
• Alternative Income Streams: Child support or alimony documentation (with 6 months of bank statements showing regular deposits), permanent disability award letters, or maternity leave return-to-work letters.