
In this blog, we are going to talk about how a client of mine was able to rearrange her finances such that she and her partner could mortgage qualify for a $400K target house in their neighborhood.
Posted by Chris Richards on Aug 23, 2019 4:50:32 PM
In this blog, we are going to talk about how a client of mine was able to rearrange her finances such that she and her partner could mortgage qualify for a $400K target house in their neighborhood.
Posted by Chris Richards on Feb 3, 2012 12:22:00 PM
Currently in Canada, 1 in 5 in the work force are self-employed, a trend that is expected to continue and increase. How does this impact getting a mortgage?
Posted by Chris Richards on Feb 28, 2011 6:56:00 PM
Posted by Chris Richards on Feb 28, 2011 11:42:00 AM
Employment by Others (Salary)
In general, employment and income should be confirmed with a formal letter from the employer stating length and type of employment (ie: as full time, part time, regular, probation, etc), and the amount of salary. Lenders are also responsible for providing additional supporting documentation such as current payroll stubs and applicant’s annual tax returns or the tax assessment receipts. To demonstrate the necessary stability of an applicant’s employment, borrowers should have been continuously employed by their current employer for a minimum of one full year. Those applicants who may be on probation or work under short-term contracts, are normally not considered salaried employees. Please note: prior employment history should always corroborate an applicant’s current employment circumstances.
Posted by Chris Richards on Apr 7, 2010 1:20:00 PM
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Our Richards Mortgage Group blog is a wealth of information for anyone looking to apply for a mortgage to purchase or refinance a property. Browse through the articles and find the topics that are most useful to you in your home mortgage information search. Find out if You Can Get a Mortgage here.
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Cochrane, AB T4C1K3
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