General Mortgage Information:
- Loan amounts up to 65% of appraised property value
- 20-25 year amortizations available
- Interest Rates of 3.75% - 8% annually
- Loan applicant must own a first home in Canada, US or UK
- Credit rating of at least 680 for Canadian and 640 for US applicants
- Minimum age to apply is 21 years of age
Documents required to apply:
- Copy of passport
- Copy of Driver’s License
- Copy of Social Security (US) or Social Insurance Card (CDN)
- Last 2 Years of Income Tax Statements (US Applicants)
- Last 2 Years of Notice of Assessments (Canadian Applicants)
- Authorization to access Credit Report from TransUnion US or Equifax Canada
- W-2 Forms (US Applicants)
- T-4 Forms (Canadian Applicants)
- Letter of Reference of your 2 primary banks at your country of residence (address to Scotiabank)
- Evidence of assets in your country of residence (must be in US, Canada or UK)
- Evidence of Savings (Investments, Retirements Plan, Stocks)
- Last 3 months of paystubs
- Last 3 months of Bank Statements
- Last 3 months of credit card statements
- Proof of down payment.