We have had a few occasions already this summer where clients have been unaware of Identification requirements for a home purchase, switch of a mortgage up for renewal, or a refinance of an existing home. There is nothing worse than finding out on your closing day that you’re missing the most basic documents required.

All borrowers in Ontario are required to produce one piece of legally acceptable ID (one per borrower) when signing with their lawyer.

  1. Some lenders will also require a second piece of identification, although that can often be as simple as a signed credit card or your Social Insurance card.”

This requirement CANNOT be waived so plan ahead and be sure that you are prepared. There is nothing worse than scrambling at the last minute when you are told that NO, your Ontario health card is not an acceptable form of ID.

The following are considered acceptable forms of ID when mortgaging property in Ontario.

The ID MUST be current(NOT expired). So make sure you check your expiry dates NOW.

Drivers License
Canadian Passport
Canadian Citizenship card
Permanent Residency card
Ontario Photo card

Remember, without proper ID, your file WON’T close!
Plan ahead now!