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Alberta First-Time Home Buyer Checklist

Use this checklist to prepare for a cleaner first mortgage conversation. It is educational only and does not replace personalized mortgage advice.

1. Budget and Down Payment

• Estimate your comfortable monthly payment.
• Confirm your down payment source and amount.
• Set aside funds for closing costs, moving, inspection, and emergencies.
• Check whether any gifted funds need a gift letter.

2. Income Documents

• Recent pay stubs.
• Employment letter.
• T4s or tax documents if requested.
• For self-employed buyers: tax returns, notices of assessment, financial statements, and business documents.

3. Credit and Debts

• Review credit cards, loans, student loans, lines of credit, and car payments.
• Avoid taking on new debt before closing.
• Keep payments current.
• Ask before closing or moving credit accounts.

4. Purchase Preparation

• Get pre-approved before serious home shopping.
• Understand financing condition timelines.
• Budget for inspection, appraisal if needed, and legal fees.
• Keep all down payment transfer records.

5. Before Closing

• Respond quickly to lender document requests.
• Do not make large undocumented deposits.
• Do not change jobs without getting mortgage advice first.
• Confirm home insurance and lawyer details.