Mortgage Loan
- Thread starter NoahPeter
- Start date
What if the income is from outside Canada? Can I show that as income proof for the Mortgage Loan?
If you have a job and steady income before you moved to Canada, then some mortgage loan will take that into consideration. (for new immigrant)
If you are already a PR and you've been getting income from outside, then it will be consider if it's included in your Canadian tax return.
Hello,
There are different mortgage products available in Canada based on your situation. Are you landing here as Permanent Resident? Different mortgage products are used to qualify new immigrants based on the down-payment amount and income scenario. I am a certified accountant (CPA,CGA) and a real estate sales rep and have extensive experience in Accounting, Mortgages and Real Estate. Would be glad to answer any related queries.
Hey guys, a question. I’ve just started working as a dentist here in BC and wants to get into the housing market. I’m not sure where to start? How much would I qualify for when it comes to mortgage. My wife is working too. Our total combined income would be around $230k per year. Where do I start from? Any suggestions are appreciated.
I’d say around $50-60k. Could be more if we decided to use our RRSP but no plans on that yet.
Hello, you need a mortgage agent to begin with who can walk you through the process and assist from A-Z. Find a trustworthy mortgage agent associated with reputed brokerage such as Mortgage Outlet in your province. They can review your situation and recommend documentation needed to pursue your file. At 10 feet view, with your income, it shouldnt be difficult but also depends on the housing prices within the location of your preference. Good luck and happy house hunting!
When applying for a mortgage loan, proof of income is crucial. Typically, lenders in Canada prefer income sources that are within the country for mortgage approval. However, if your income is from outside Canada, you can still use it as proof.
To do this, you'll need to provide documentation that demonstrates a stable and reliable income source. This might include employment contracts, tax returns, or any official documents from your income source abroad. Working closely with your Mortgage Broker in Goole is a smart move, as they can guide you through the specific requirements and documentation needed for your situation.
To do this, you'll need to provide documentation that demonstrates a stable and reliable income source. This might include employment contracts, tax returns, or any official documents from your income source abroad. Working closely with your Mortgage Broker in Goole is a smart move, as they can guide you through the specific requirements and documentation needed for your situation.
