Mortgage Application Checklist

Can you afford it?

Rates & Fees

Find an appraiser

Consider Insurance

Scotiabank knows that purchasing a home is one of the biggest financial—and life—decisions you'll make. That's why we want to help you stay informed and organized. Below, you'll find helpful checklists of things you'll need on hand to for each step along the way to homeownership. Remember, if you have any questions feel free to speak with one of our expert Personal Banking Officer.

Documents Required for Approval

_{Identification}

One (1) Valid unexpired national photo identification

Proof of address

One (1) valid proof of address (deed, recent utility bill, tax assessment or financial institution/bank statement)

Salaried individuals

_{Salaried Individuals:}

Salaried or Fixed Contract or where commission < 50% total income any two of the following:

Recent letter of employment
Current contract executed between the employer and employee
Pay slip(s) showing the most recent full monthly income ( if pay slip shows a deduction at source indicating loan payment, letter of indebtedness is required)
Bank statements showing direct payroll deposits for the 2 most recent months-including BNS screen print
Most recent income tax return
Any official document issued by the local Government indicating income.

Self employed individuals

_{Business documentation – one of the following:}

Valid Business registration / License, and most recent Annual Return (where applicable) or
Financial statements for the last 2 years prepared and signed off by an Accountant on the Bank-Approved panel, or in good standing with the relevant supervisory board, or
Most recent account statement (Banker’s reference) for an active Scotiabank business or commercial bank account or other financial institution or
Certification of incorporation/Articles of Association

_{Income evidence documents - one of the following:}

Income Tax Returns for the last 2 years, or
Audited Financial Statements for the last 2 years, or
Financial Statements for the last 2 years prepared and signed off by an Accountant on the Bank-Approved Panel, or in good standing with the relevant supervisory board, and six (6) months bank statements or
Any official document issued by the local Government indicating the income

_{Credit Approval}

Source of downpayment – account statement or copy of cheque or evidence that monies are deposited in BNS account, letter signed by donor & borrower if a gift
Proof of assets in the name of the Borrower: Statements showing investments or bank statements, copy of land title or motor vehicle title, Pension Statements, Last valuation of property
Proof of Liabilities in the name of the Borrower: Credit card, Loan or Mortgage statement
Proof of loan purpose – Agreement of Sale or agreement of Purchase

_{Additional Credit Approval Documents}

For NHT benefit - request Eligibility Letter via NHT online portal
Surveyor’s ID report (where applicable)
Current Appraisal to be ordered by the Bank. Copy of title is required to initiate appraisal request.
Most recent Property Tax Certificate
Maintenance fee statement and evidence of strata coverage (where applicable)
Any other documents to support loan purpose