Mortgage Checklist

Applying for your Mortgage is easier when you’re prepared.

The following documents may be requested during the processing of your mortgage application:

  • Social Security Number AND Original Form of Identification: one Government issued ID with signature (i.e. Driver’s License, U.S. Passport)
  • Copy of Warranty Deed, current Mortgage Statement, and current Property Tax bill for all applicable properties
  • Most recent Homeowner or Homeowner/Condominium Association Dues Invoice for all applicable properties
  • Credit explanation letter, if necessary
  • Most recent (2 months) copies of bank statements, retirement funds, passbook savings
  • Fully executed Sales Contract and Addendums
  • Copy of listing agreement on present home, if applicable
  • Gift verification: if receiving a gift with relation to the down payment and/or closing cost, donor must submit evidence of this gift through copies of checks and bank statements as well as an affidavit stating that funds will be a gift and not a loan.
  • Lease agreements on rental properties, if applicable
  • Two personal references (form provided)
  • Evidence of mailing address and physical address (i.e. utility bill)
  • Evidence of earnest money deposit(s), copy of front and back of cancelled check, or copy of bank draft or money order
  • Evidence of Home Owners Insurance for all properties owned, reflective of premium and taxes

If you are a self-employed borrower:

  • Two most recent years’ signed and dated personal tax returns with all schedules
  • Copy of extension if last year’s taxes were not filed
  • Current financial statement (within 90 days of application date)
  • Two most recent years of corporate tax returns or if applicant has a 25% or more interest in the Company with all schedules and attachments, inclusive of K-1

If you are NOT a self-employed borrower:

  • Pay stubs or salary vouchers covering wages for the most recent 30-day period
  • Two recent years’ signed, dated, and stamped personal 1040 tax return with all schedules attached, plus W-2 forms
  • Job letter inclusive of position, length of service, and salary

Additional documents required for condominiums:

  • Condominium Association Fee Letter
  • Condominium Declaration
  • Condominium Amendments, By-Laws, and Rules and Regulations
  • Certificate of Insurance for the subject unit and a copy of the blanket policy with The Bank of Nova Scotia listed as Mortgagee and evidence of payment (bill stamped with agency)

Documents to be submitted after approval, prior to closing:

  • Copy of Deed or Draft Deed of the property being purchased or financed
  • Tax Clearance letter with copies of Property Tax Receipts
  • Title Insurance
  • Hazard Insurance, Flood Insurance (if applicable) binder/policy equal to 80% of replacement cost of loan amount, whichever is greater to include fire, earthquake, and windstorm coverage naming The Bank of Nova Scotia as Mortgagee and evidence of payment (bill stamped with agency)
  • Surveyor’s Report (“As Built Survey”) showing location of building on the plot
  • Pay off figures for loans to be paid off
  • If Power-of-Attorney is to be used, a copy must be submitted for Bank council’s approval
  • Certificate of Insurance for the condo unit and a copy of the blanket policy with The Bank of Nova Scotia listed as Mortgagee and evidence of payment (Bill stamped with Agency)

Please note, this list may not include everything your specialist requires to complete your application.

You can own the home of your dreams sooner. Contact our nearest Scotiabank branch to find out how.

Thinking of buying or refinancing a home?

Contact one of our friendly Mortgage Specialists about our competitive rates.