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New Scotiabank Total Net Worth Program

Looking for a net worth program for clients with modest incomes but significant verifiable liquid assets & strong credit scores? Scotiabank has just released one for us! 

And yes this is a picture of me and Trevor Linden from back in my Scotiabank days! 

This total net worth program allows us to exceed the standard debt to income ratios provided the client has sufficient assets in line with the excess mortgage amount required. Clients must have $1 in liquid assets for every dollar of mortgage that is required above the amount they would qualify for using standard income verification. 

Here are a few of the important notes to know:

  • Canadian Residents, paying taxes in Canada
  • Credit score 780+
  • Minimum liquid asset amount is $250,000 - required at application

*12 month history of ownership (average can be used over 12 monthly statements, four quarterly statements, or two annual statements)

*most recent 30 days on deposit in a Canadian Financial Institution

*all account holders on the mortgage & therefore on title

Contact me for a personalized calculation for you or your clients! #morethanjustamortgage #mackenziemortgage