Mortgage Checklist
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: Letter of employment and Pay slip(s) showing the most recent full monthly income
- Commissioned Income: Letter of employment and last 6 months pay slips
- Self Employed Individuals:
· Business registration / License, and most recent Annual Return (as applicable), and
· Income documents, e.g., Income Tax Returns (last 2 years) or Audited Financial Statements(last 2 years), and six (6) months bank statements
Credit Approval
- Source of downpayment – 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
Additional Credit Approval Documents
- Agreement of Sale or Proforma Invoice
- Current Appraisal ordered in the name of Scotiabank, documents needed: Mortgage Deed/Certificate of Title
- Service Charge statement – if you are a home owner
- Home Insurance statement – if you are a home owner
- Maintenance fee statement (as applicable where there is a Homeowners’ Association for Townhouses, Condominiums, Apartments
- Completion certificate for properties < 4 years old (if applicable)
- Any other to support loan purpose
Closing and Disbursement
- Evidence of home insurance and assignment to the Bank
- Original Surveyor’s Identification not more than 12 months free of encroachments and covenant breaches
- 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 (if applicable)
- If seller has a mortgage, you should request to obtain a release or release in Escrow with settlement letter
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