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Guide

Purchase vs refinance mortgage documents in Ontario

Purchase files emphasize Agreement of Purchase and Sale, down-payment proof, and first-time buyer program documents. Refinance and renewal files emphasize current mortgage statements, property tax bills, updated income, and sometimes appraisal. Hivi-X lets you maintain separate reusable checklists for each deal type with missing-item tracking.

Deal-type document comparison

Use separate checklists per deal type — lenders expect different core packages:

DocumentPurchaseRefinance / renewal
Agreement of Purchase and Sale✅❌
Down-payment proof✅⚠️ if extracting equity
Current mortgage statement❌✅
Property tax bill⚠️✅
Updated income✅✅
Appraisal⚠️⚠️

Purchase-specific intake

Purchase files add gift letters with donor proof, deposit receipts, and program-specific forms for first-time buyers. Track each as a checklist line instead of a buried email attachment.

Refinance and renewal waves

Fixed-rate renewals in 2025–2027 add another documentation wave — updated income, mortgage statements, and sometimes re-qualification packages. A renewal checklist template saves re-building the list every time.

Organize borrower intake without the email chase

Reusable Ontario checklists, secure guest link (no account needed) or my-id.ca borrower uploads, and exportable packages alongside your LOS.

FAQ

Purchase emphasizes down-payment source and offer details. Refinance emphasizes existing mortgage statements, property tax, and updated income. Maintain separate reusable checklists in Hivi-X for each deal type.

General information only — not legal, compliance, mortgage brokering, or FINTRAC advice. Hivi-X is document-collection software, not a licensed mortgage brokerage, FSRA registrant, KYC verifier, or AML screening service. FSRA/FINTRAC obligations remain with your brokerage. Consult your principal broker, compliance officer, and qualified counsel. Last updated 2026-07-09.

General information only — not legal, compliance, mortgage brokering, or FINTRAC advice. Hivi-X is document-collection software, not a licensed mortgage brokerage, FSRA registrant, KYC verifier, or AML screening service. FSRA/FINTRAC obligations remain with your brokerage. Consult your principal broker, compliance officer, and qualified counsel.

Purchase vs Refinance Mortgage Documents | Hivi-X