When applying for a mortgage, many Albertans are surprised by the level of documentation lenders require. Your broker may ask for things like
90 days of bank statements, a signed gift letter, or two years of T4s—and it might feel like too much. But following these instructions exactly is critical to getting approved smoothly.
This guide explains why listening to your mortgage broker is so important and how it directly impacts your mortgage approval.
Why does my broker ask for specific documents? Every document your broker requests is tied to
lender and federal regulatory requirements. For example:
- 90 days of bank statements: Required by lenders and CMHC to verify the source of your down payment and comply with anti-money laundering rules.
- Gift letters: Needed to prove gifted funds are from an immediate family member and not repayable debt.
- Employment letters and pay stubs: Confirm your income is stable, ongoing, and not in probation.
If you provide only 60 days of bank statements when 90 are required, the lender will not accept your file—and your approval will stall.
What happens if I push back or delay sending documents? - Delays in approval: Lenders will not review incomplete applications.
- Increased stress: Last-minute scrambling to collect missing paperwork can jeopardize your closing.
- Risk of decline: If the lender doesn’t get the documents they require, they may decline the application altogether.
Why can’t my broker “make do” with less? Mortgage brokers work under strict compliance rules set by regulators, lenders, and insurers. They cannot submit partial or unverified information—it must meet industry standards. Submitting incomplete documentation could risk your approval and the broker’s license.
How does listening help me as a client? - Faster approvals: Complete documents mean your file moves quickly through underwriting.
- Less back-and-forth: Sending everything upfront avoids repeated requests.
- Stronger application: Lenders see a well-documented file as lower risk.
What if I don’t understand why a document is needed? Ask your broker. Part of their role is to explain what lenders require and why. Good communication builds trust, reduces frustration, and helps you feel confident in the process.
Bottom Line Listening to your mortgage broker isn’t just about convenience—it’s about ensuring your mortgage gets approved on time. When they ask for
90 days of bank statements, two years of tax documents, or a signed gift letter, it’s because lenders require it. By following their guidance, you’ll save time, reduce stress, and give yourself the best chance at a smooth approval.
Have questions about documents or pre-approval? Contact
Garett Martin Mortgages today for straightforward guidance.