Proof of Down Payment

It’s not just about how much money you have; lenders also need to see where it’s coming from. Whether it’s savings, investments, a gift, or a sale of assets, be ready to show the paper trail.

This ties directly into Canada’s anti-money laundering regulations, and yep — there’s no way around it.

You may need to show:

• A 90-day bank statement showing your savings
• A gift letter (if you’re getting help from a family member)
• RRSP withdrawal confirmation (for those using the Home Buyers’ Plan)
• TFSA or investment account statements

Heads-up: If your down payment is under 20% and your mortgage requires insurance, lenders tend to be extra strict about the 90-day rule — so timing matters.