Due to government and regulatory differences in the U.S., you can expect
a few differences in the mortgage process from what you are used to in
Canada with TD Canada Trust. For instance, the mortgage process will take
longer and also you or a Power of Attorney must be present in the U.S.
for the Closing. So to make the process as comfortable and stress free as
possible, TD Bank
®
, America’s Most Convenient Bank will be with you every
step of the way.
Congratulations! You’re buying a home in the U.S.
If you are a Canadian resident, you will need to
provide the following documents
1
when applying
for and/or Closing a Mortgage in the U.S.:
• Valid Passport and Drivers License (for applications and also ensure that
you bring both to Closing in the U.S.)
• Confirmation of Income with the Notice of Assessment for the past two
years along with the following:
– Salaried: T4s + current pay stub showing past 30 days income
– Self Employed: T1 General or Notice of Assessment
– Retired: Pension Statements (including proof of income will continue
three or more years), plus T1 General
• Purchase & Sale Agreement
• Confirmation of Down Payment from non-borrowed sources
(one or more of the following):
– Deposit on Offer
– Canadian bank account statements (past two months)
– Liquid or other Assets
– Gift Letter (if a financial gift has been used for the Down Payment)
• Insurance (required at Closing)
– Home owner’s insurance binder/policy
– Flood/hurricane/wind insurance policy if required
Canadian Documents U.S. Equivalent
T4 Statement of Remuneration W2 Wage & Tax Statement
T1 Personal Tax Return Form
and/or Notice of Assessment
1040 Individual Tax Return Form
T2 Corporate Tax Return Form 1120 Corporate Business Return Form
T2125 Statement of Business &
Professional Activities
1040 Schedule C Net Profit/Loss
from Business, and/or
1065 K1 Partner’s Share of Income
T5 Statement of Investment Income
1040 Schedule B Interest & Ordinary
Dividends, and/or
Schedule D Capital Gains & Losses
T776 Statement of Real Estate Rental
Income
1040 Schedule E Supplemental
Income & Loss for Partnership/LLC
T5013 Statement of Partnership Income 1065 Partnership Income Form
T4A Statement of Pension,
Retirement, Annuity & Other Income
Social Security or
Awards Pension Letter
1
If documents are in French, they must be presented with an English translation.
®
The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.
0415
TD Canada Trust
Are you a Canadian resident
looking to purchase a home or
investment property in the U.S.
2
?
Here’s what to expect from the mortgage process…
For more information or to start an application
for a U.S. mortgage offered by TD Bank, visit
one of TD Bank’s nearly 1,300 locations in
the U.S. or call the TD Cross-Border Banking
Support Line at 1-877-700-2913.
3
TD Bank, America’s Most Convenient Bank, is TD Bank, N.A., a wholly-owned U.S. subsidiary (a separate bank) owned by The Toronto-Dominion Bank.
2
Subject to credit approval and other conditions. Mortgages limited to property located in U.S. states where TD Bank, N.A. has locations. Equal Housing Lender .
3
TD Bank, N.A. is located in the United States and its support line, Stores, products and services are primarily serviced in English.
45 – 60 days
Application
Conditional
Decision
Welcome Call Appraisal Processing Underwriting Closing
What to
expect
You can meet
with a U.S.
TD Mortgage
Loan Officer face
to face or over the
phone. Just visit
a TD Bank Store
in the U.S., or call
the Cross-Border
Banking Customer
Support Line.
Within 24 business
hours your U.S.
TD Mortgage
Originator will
contact you via
phone or email
with a Conditional
Decision. You
will also receive a
letter in the mail.
Within 48 business hours of your
Conditional Decision, you will receive
a call from a U.S. TD Mortgage
Processor to review your loan
conditions, documentation, how to
enroll in e-disclosures and next steps.
A licensed home
appraiser will
contact your
realtor (or you) to
book a time for an
appraisal to verify
property value.
Your U.S.
TD Mortgage
Processor will gather
the documents you
have sent. When
received, your
documents will be
forwarded to the U.S.
TD Underwriter.
The U.S.
TD Underwriter will
verify the documents
to ensure they meet
TD Bank, America’s
Most Convenient
Bank, conditions of
approval.
When the loan is
ready you will be
contacted to schedule
the Closing. You (or
a Power of Attorney),
must be in the
U.S. with the Closing
Agent at their office.
Documents
you will
need to
provide
Purchase & Sale
Agreement
N/A
1
See list of documents required on
reverse. Note: You don’t have to be
in the U.S. until the Closing Date.
There are a number of convenient
options available for sending
documents from the U.S. to Canada.
N/A Send your documents
by the date on your
conditional approval
letter. (14 days from
Conditional Decision)
Be sure to provide
any additional
information if
requested, in order
to finalize your
application.
Bring your Passport
and Driver’s License
to the Closing and
any other documents
advised.
TD Canada Trust
