Reverse mortgage checklist
Reverse mortgage document checklist
A reverse mortgage is qualified on the home and the owners’ age, not on income. Photo ID for every person on title, the property tax bill, the home insurance policy, the statement of anything registered against the home, and the independent legal advice statement Ontario requires. This is the list Startly sends your client to complete on their phone.
- Documents
- 7, 5 required
- Applies to
- Reverse mortgage, any income, main applicant
- Version
- Startly’s checklist of Nov 1, 2026
The checklist
7 documents in two groups
Identity and age for every owner, the home’s tax bill and insurance, any mortgage to be paid out, and the lawyer’s independent legal advice statement. No income documents.
Every document is required unless it says optional. Each upload is checked to be readable and the right document, plus the checks listed under it. Descriptions are shown to your client as written.
Startly’s built-in checklist. Your brokerage can tailor it; your version stays private.
Identity and banking
3 documents, all required
- 1
Government-issued photo ID
Driver's licence or passport, front and back.
Checked for name, front and back, not expired.
- 2
Credit check consent
Signed consent form from your broker. Do not upload your SIN card.
Checked for name, signature and date.
- 3
90 days of bank statements
All pages, for every account you use.
Checked for name, every page, 90 days covered. Figures read and cited to the page.
Your home
4 documents, 2 required
- 4
Most recent property tax bill
Shows the taxes are paid and current.
Checked for name.
- 5
Home insurance policy
Checked for name.
- 6
Current mortgage or line of credit statement,Optional
If anything is registered against your home. It is paid out from the reverse mortgage.
Checked for name, every page.
- 7
Independent legal advice statement,Optional
Signed by your lawyer after your meeting. Ontario requires it before a reverse mortgage funds.
Checked for name, signature and date.
Why these documents
What the lender is looking for
Every lender in Canada that offers one looks at the same things: who owns the home and how old they are, what the home is worth, and that taxes and insurance will stay paid.
- Government-issued photo ID
- Identity and proof of age in one. Every person on title must be 55 or older, and each sends their own, front and back, not expired.
- Most recent property tax bill
- Property taxes must be current and stay current for the life of the loan; the bill shows both.
- Home insurance policy
- The home must stay insured for the life of the loan, like the taxes.
- Current mortgage or line of credit statement
- Optional. Any mortgage or line of credit on the home is paid out from the reverse mortgage at closing, so the lender needs its balance.
- Independent legal advice statement
- Optional until closing. Ontario’s mortgage brokering rules require the brokerage to obtain a lawyer’s written statement that each borrower received independent legal advice. Lenders will not fund without it.
How Startly reads them
Send one link. Startly checks every page.
Step 1
Send one link
Open an Application for a reverse mortgage. Startly picks this checklist; tailor it, then send your client their link by email or text.
Step 2
Your client sends them
They enter a code we email them, with no account to create, and photograph or upload each item. Reminders follow, by default on days 2, 5 and 9, until everything is in.
Step 3
Startly checks each upload
Readable, the right document, your client’s name, front and back of a card, a signed statement. When something is missing, your client is asked for it, not told what we found.
Step 4
You review and decide
Startly reads the bank statement balances and cites each to its page. Findings show what doesn’t add up; you dismiss each with a reason, accept each document, then download the package.
Questions
Common questions
What documents do I need for a reverse mortgage in Canada?
Government photo ID for every person on title, the most recent property tax bill, the home insurance policy, statements for any mortgage or line of credit registered against the home, and, before funding, a signed independent legal advice statement from a lawyer. The lender orders the appraisal.
Does a reverse mortgage need proof of income?
Not the way a regular mortgage does: there are no pay stubs, T4 slips or Notices of Assessment on this checklist. Some lenders ask to see that the owners can keep paying property taxes, heating and insurance, which the bank statements show.
Is independent legal advice required for a reverse mortgage in Ontario?
Yes. The brokerage must obtain a written statement signed by a lawyer that the borrower received independent legal advice, and lenders require it from every person on title before funds are advanced. Startly’s checklist asks for it as an optional item so the file is complete when the lawyer sends it.
Does my client need an account?
No. Each person on title gets their own link and signs in with a one-time code sent to their email. Startly checks each upload is readable and complete, both sides of a card included.
Early access
Collect a reverse mortgage file without the chase.
Sign in with your work email to join the waitlist. We let brokerages in a few at a time and email you when your account is ready. Early-access brokerages get their first 3 months free.