Underwriting

Down payment money sourced from another loan, which brings tighter lender and insurer review.

Documents and review steps lenders use to confirm employment, earnings, and income stability.

Ratio between mortgage amount and property value that shapes insurance, refinance, and equity limits.

Early lender assessment that estimates borrowing capacity without guaranteeing final approval.

Informal early affordability estimate that carries less lender commitment than pre-approval.

Evidence that the borrower can supply the down payment, closing costs, and other required cash.

Canadian approval terms including the stress test, GDS, TDS, LTV, pre-approval, and borrower documentation.