Mortgage application checklist
Applying for your mortgage is easier when you’re prepared.
Before you meet with your Scotiabank Mortgage Specialist, make sure you have the following documents ready.
![purple check list](/content/scotiabank/bb/en/personal/borrowing/mortgage-application-checklist/_jcr_content/main-par/section_container_12/section-container-par/image_copy_copy_1276971012.img.png/1634744710799.png)
Application
One (1) valid unexpired national photo identification
One (1) valid proof of address (deed, recent utility bill, tax assessment or financial institution/bank statement)
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 Scotiabank screen print
- Most recent income tax return
- Any official document issued by the local Government indicating income
Commissioned Income: Letter of employment and last 6 months pay slips
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 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
![green circle tick](/content/scotiabank/bb/en/personal/borrowing/mortgage-application-checklist/_jcr_content/main-par/section_container_12/section-container-par/image_copy_101391197_50362839.img.png/1634744740583.png)
Credit Approval
- Source of down payment – account statement, 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
![orange document](/content/scotiabank/bb/en/personal/borrowing/mortgage-application-checklist/_jcr_content/main-par/section_container_12/section-container-par/image_copy_280314524.img.png/1634744758646.png)
Additional Credit Approval Documents
- Current Appraisal ordered by Scotiabank, documents needed:
- Mortgage Deed/Certificate of Title
- Completion for properties < 4 years old (if applicable)
- Most recent property tax receipt
- Maintenance fee statement (as applicable where there is a Homeowners’ Association - Townhouses, Condominiums or Apartments)
![purple hand with dollar](/content/scotiabank/bb/en/personal/borrowing/mortgage-application-checklist/_jcr_content/main-par/section_container_12/section-container-par/image_copy_copy_copy.img.png/1634744780900.png)
Closing & Disbursement
- Evidence of home insurance and assignment to the Bank
- Well and sceptic certificates (if applicable)
- Up-to-date water authority bill/clearance certificate
- Incomplete Development: Certificate of practical completion (if applicable)
- Up-to- date lease rent/maintenance fee receipt (if applicable)
- Lease land: Lease agreement showing expiry for > 5 years after Mortgage maturity (if applicable)
- Copy of share certificate/Article of Association of the administrative company (if applicable)
- Updated credit bureau score (if applicable)
- If seller has a mortgage, you should request to obtain a release or release in Escrow with settlement letter