POF

[SeenaGeorge]

To arrange the POF,I thought of getting a loan from bank by pledging the deed of my house.Will this create a problem at the time of verification.Pleas help and what is the normal verification process done for POF by CIC.

 

[mgnlky]

Proof of funds cannot be acquired through loans. This is explicitly stated on the CIC website:

You can’t borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they aren’t coming with you). https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/become-candidate/eligibility/proof-funds.html

 

[SeenaGeorge]

Thanks for the quick reply.

Proof of funds cannot be acquired through loans. This is explicitly stated on the CIC website:

You can’t borrow this money from another person. You must be able to use this money to pay the costs of living for your family (even if they aren’t coming with you). https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/become-candidate/eligibility/proof-funds.html[/QUO

 

[sundar17feb99]

To arrange the POF,I thought of getting a loan from bank by pledging the deed of my house.Will this create a problem at the time of verification.Pleas help and what is the normal verification process done for POF by CIC.

DO NOT APPLY FOR LOAN.
IRCC explicitly states that funds should be free of loans and can be liquidated at any given moment.
You can sell the land and attach the receipt but you shouldn't showcase loaned amount as POF.