Definition
Bank statements from the last 90 days are a standard document in every mortgage file. They serve to:
1. **Validate the down payment**: funds must be present and not borrowed. A recent large incoming transfer must be explained and documented (gift letter, proof of asset sale, etc.). 2. **Confirm income**: regular salary deposits must match the T4s and employment letters provided. 3. **Identify hidden commitments**: undeclared regular outgoing payments (unlisted auto loans, alimony, financial obligations to a third party). 4. **Verify general financial behavior**: frequent overdrafts, NSF (non-sufficient funds), excessive online gambling — these behaviors can lead a lender to refuse even if ratios are met.
Format: statements must be official (produced by the financial institution), not screenshots from the mobile app (some lenders accept downloadable bank PDFs).