MPNP Settlement fund question

[ysticks]

Hi All,

I'm preparing MPNP and I have a question about settlement fund.

MPNP requires $10,000 for myself and +$2,000 / each family member for the settlement fund.
My situation is that I have lived in Canada for 3 years and I work full time and also I bought a house here.
Can my house be counted for the settlement fund?
I don't have enough balance for $10,000 in my bank account but my house price is for sure higher than the fund requirement.

So can I include my house price in the settlement fund?

 

[znarfier]

Hi All,

I'm preparing MPNP and I have a question about settlement fund.

MPNP requires $10,000 for myself and +$2,000 / each family member for the settlement fund.
My situation is that I have lived in Canada for 3 years and I work full time and also I bought a house here.
Can my house be counted for the settlement fund?
I don't have enough balance for $10,000 in my bank account but my house price is for sure higher than the fund requirement.

So can I include my house price in the settlement fund?

Hi there!

I would say yes! It will fall under your proof of ownership of real estate and will be added to your Total Assets which you will also include your liquid assets.

Though it is true that they require 10K CAD +++ but since your real estate property cost is more than the 10K, then in my opinion... that should do it!

Goodluck and GOD bless!

 

[ysticks]

Thanks a lot!!

Hi there!

I would say yes! It will fall under your proof of ownership of real estate and will be added to your Total Assets which you will also include your liquid assets.

Though it is true that they require 10K CAD +++ but since your real estate property cost is more than the 10K, then in my opinion... that should do it!

Goodluck and GOD bless!

 

[znarfier]

Thanks a lot!!

You're welcome!

Good luck!

 

[Alwina21]

Hi guys, all of u ba ah merong 6 months bank history na settlement fund?dba yung required is almost 400,000 pesos... Wat if yung 6 months bank history ko is mga 200,000 pesos LNG pero yung remaining na 200,000 is now ko plang idedeposit sa existing account ko...and mgging total nmn nun is 400,000 as of this month of June.....ok LNG po ba yun or is it necessary na dapat sa history na 6 months is dapat andun na agad agad yung 400,000? For example January 2014 I have 200,000 in my account tpos yung remaining 200,000 now ko plng idedeposit dis June and total is 400,000...is it okay po ba to apply this month June din?sabi ksi sakin after 3 months pa daw ako pwede mag apply...please help po....tnx a lot..

 

[Alwina21]

Hi guys I'm confused regarding the settlement fund which requires a 3 months bank history..I have an existing bank account since last year....the 3 months bank history is only 5,000 canadian dollars...I am going to deposit the remaining 5,000 canadian dollars this June so the total would be 10,000 canadian which is the required settlement fund...I was advised that I can apply only after 3 months meaning this coming September because of that bank history issue...can u help me guys,thanks a lot....