How to show the home loan while showing POF.

[omsaiom]

Dear Members,

We are two members in family. I have about CAD 16,000 available with me, which will be sufficient for two members as we are only required to show about CAD 14,000 something.

We also need to show all the loans to CIC. I also have home loan on me (to which my wife is a co-borrower). I have repaid some of it already. My wife has sufficient amount of funds in her account to completely pay the loan. Can I show my wife’s fund as the amount required to pay the loan.

I will be required to show the home loan because; the EMI gets deducted from my account which has all the money. Hence it will be clearly visible in the bank statement and can generate a query about the specific amount that gets deducted every month.

Q1) Will an affidavit by my wife saying that she will repay the home loan, if we get a visa will be sufficient to convince the VO about the funds. I am doing this because my wife is also a co-borrower in the loan.

Q2) Will I require any sort of statement from bank.

Your help is highly appreciated.

Best Regards,
Omsaiom

 

[Rohit11t]

I would suggest not to include your load in your bank statement to avoid complications however others may have different opinion.

 

[CADparity]

Dear Members,

We are two members in family. I have about CAD 16,000 available with me, which will be sufficient for two members as we are only required to show about CAD 14,000 something.

We also need to show all the loans to CIC. I also have home loan on me (to which my wife is a co-borrower). I have repaid some of it already. My wife has sufficient amount of funds in her account to completely pay the loan. Can I show my wife’s fund as the amount required to pay the loan.

I will be required to show the home loan because; the EMI gets deducted from my account which has all the money. Hence it will be clearly visible in the bank statement and can generate a query about the specific amount that gets deducted every month.

Q1) Will an affidavit by my wife saying that she will repay the home loan, if we get a visa will be sufficient to convince the VO about the funds. I am doing this because my wife is also a co-borrower in the loan.

Q2) Will I require any sort of statement from bank.

Your help is highly appreciated.

Best Regards,
Omsaiom

Are these funds encumbered? In other words, can the bank seize them if you stopped repaying your loan? Also, what does it exactly say on your bank statement - "loan payment" or something similar?