Proof of Funds (Express Entry)

[prabag]

Hi there,
I declared my loan. On top of that I made an independent valuation of my real estate by three different appraisal companies and included the average amount of the valuation into my assets.

So I put in assets: savings in banks, cash on salary card, and real estate. I put in liabilities- the loan. I then derived my net worth (assets - liabilities). The amount of net worth without the real estate would have been not enough to comply with the minimum requirement for POF. But I explained in the LOE that I intend to sell the house after I get the ITA and close the loan.

All worked out, my application approved. Good luck!

Sir, Thank you for the reply.
I have a home loan of CAD100000 of 3 property.
Questions:
1. Should I do valuations of all properties?
2. I am planning to sell properties once received PPR, Should I need to declare this? If need to declare, on plain paper or affidavit?
Sir, urgently reply. I was about to submit the application.

 

[cavemen]

Hi
Forum

I will be attaching my spouse's bank statement who is accompanying me to canada, my query is what should be the duration of the statement ?. Also is his six months average statement required ?

 

[tahminaml]

Bank letter taken on 15 March... I will be submitting my application tomorrow hopefully... Is tht a problem?

 

[Wolverine17]

Guys i have twp questions,first are timed deposits and certificate of deposit accepted as pof??
Second are post office savings accepted because i have my wifes account bank statement and letter stating total balance,account number and account holder name but opening date and contact info for the post office is not mentioned

Any help with my question,thanks

 

[kryt0n]

Any help with my question,thanks

We answered this in another thread

http://www.canadavisa.com/canada-immigration-discussion-board/post-office-money-account-t481718.0.html

 

[cavemen]

Hi
Forum

I will be attaching my spouse's bank statement who is accompanying me to canada, my query is what should be the duration of the statement ?. Also is his six months average statement required ?

anyone ?

 

[kryt0n]

anyone ?

Ircc want a 6 month average letter. If you can't get that produce 6 months of statements.

 

[cavemen]

Ircc want a 6 month average letter. If you can't get that produce 6 months of statements.

I have 6 months average letter for my bank account ( prime applicant ), however I am also attaching my husbands bank account details since part of the funds are in his account . So the question is do we need to also include his six months statements ?

 

[kryt0n]

I have 6 months average letter for my bank account ( prime applicant ), however I am also attaching my husbands bank account details since part of the funds are in his account . So the question is do we need to also include his six months statements ?

Yes

 

[greysky1866]

Sir, Thank you for the reply.
I have a home loan of CAD100000 of 3 property.
Questions:
1. Should I do valuations of all properties? - No you don't need to do that.
2. I am planning to sell properties once received PPR, Should I need to declare this? If need to declare, on plain paper or affidavit? - No, you don't need to declare.
Sir, urgently reply. I was about to submit the application.

- Just keep required cash balance or FD for period of last 6 months in bank as per Canadian requirement.

 

[rafabr]

Could I start buying dollars to benefit from current exchange rate or will that negatively impact my POF?

 

[Tatheer Zehra]

my father transferred half of the required amount with gift deed and my husband has half of the required balance maintained for last six months and he signed affidavit that these funds will be used for settlement..... thirdly I have also provident fund statement showing 40% of requirement. will that suffice.... please help....

 

[cavemen]

Yes

Thanks kryt0n

 

[Navin1988]

Hey guys. CIC requirements for POF includes "the average balance for the past six months". What exactly does this mean?? Do i have to show the balance for each month? Or the balance at the end of the last six months??

 

[Navin1988]

Hey guys. CIC requirements for POF includes "the average balance for the past six months". What exactly does this mean?? Do i have to show the balance for each month? Or the balance at the end of the last six months??

anyone?