We’ve all heard the scout motto “Be prepared”. It’s great advice if you need a mortgage. Assembling everything your lender needs to verify your income is a critical component of mortgage success. A last-minute scramble for documents just adds to stress. Get a Mortgage Kit folder ready and begin collecting the verification you will need for your income type: Full-time salary: Provide a recent pay stub and a “letter of employment” on company letterhead that confirms a) your position, b) your
https://youtu.be/-h-Vp64-EPs Since 1989, Mortgage Intelligence has been helping Canadians meet their home and commercial property ownership goals. Over the years, Natasha Bridgmohan and her expert team of private mortgage brokers have created a ‘home for all your mortgage needs’. Remove Self-Employed Mortgage Wall - Call Natasha today at 1-866-553-7467 and get the most competitive rates!
On February 15, 2016, minimum down payment rules have changed in Canada – for homes worth more than $500,000. The change is straightforward: for any portion of the house price over $500,000, buyers will need to provide 10% downpayment for an insured mortgage. The minimum downpayment for the first $500,000 will remain unchanged at 5%. How much difference could it make? Here’s a simple example: Right now, you could get a mortgage for a $750,000 home with a down payment of $37,500: a simple