Realtor Mortgage Resource Centre · Client Readiness

Mortgage Readiness Checklist for Ontario Realtors

Ontario Realtor mortgage-readiness checklist for qualification review, down payment, closing costs, property risk and timeline dependencies before offers.

Reviewed by Parasdeep Singh, Principal BrokerLast reviewed August 25, 2026Ontario-specific professional resource

Use

Before active offer writing

Goal

Surface risks without underwriting

Documents

Mortgage team collects directly

Output

Questions to resolve before bidding

On this page

Borrower readinessCash readinessProperty readinessTimeline readiness

Borrower readiness

Ask process questions, not for confidential proof.

  • Has a licensed mortgage professional reviewed the buyer's current finances?
  • Were income and down-payment documents reviewed?
  • Has the buyer disclosed all debts and other properties?
  • Has employment or income changed since the review?
  • Is the buyer planning any major borrowing before closing?

Cash readiness

A buyer needs more than the minimum down payment.

  • Deposit available on the offer timeline.
  • Down-payment source is traceable and acceptable to the mortgage professional.
  • Closing-cost reserve is separate from the down payment.
  • Appraisal-gap contingency has been discussed if bidding above comparable evidence.
  • Bridge need has been identified if sale proceeds are required.

Property readiness

Before a firm or aggressive offer, flag whether the property is standard for the lender path.

  • Owner-occupied, rental or mixed use is clear.
  • Unit count and legal use are understood.
  • Condo fees and property taxes are known where possible.
  • Rural/access/well/septic or unusual construction facts are flagged.
  • Significant renovations or condition issues are disclosed to the mortgage professional.

Timeline readiness

The mortgage, sale and legal timelines should fit together.

  • Financing-condition deadline is realistic for the file.
  • Appraisal access can occur promptly.
  • Existing-property sale dates are coordinated.
  • Closing date gives enough time for lender and lawyer processing.
  • Pre-construction buyers have restarted mortgage review well before final closing.

Realtor + mortgage coordination

Have a client who needs a mortgage review?

Use the Realtor referral pathway for a consented introduction. Do not upload tax returns, bank statements, credit information or other borrower financial documents through the referral form.

Refer a client

Frequently asked questions

Is this checklist a mortgage pre-approval?

No. It is a Realtor workflow checklist. Only the mortgage professional/lender can assess financing.

Should every item be perfect before a buyer makes an offer?

Not necessarily. The purpose is to identify which risks remain so the client can make an informed offer decision.

Can Realtors give this checklist to buyers?

Yes as general educational material, while making clear that it is not lender approval, legal advice or a substitute for mortgage underwriting.

Primary sources

Mortgage, real-estate and new-home rules can change. These resources are educational and do not replace legal advice, your brokerage policies, a lender decision or a property-specific mortgage assessment.