Information Sections

An alphabet is a set of symbols, each of which represents or historically represented a phoneme of the language.

Do I need to be working?

The short answer is yes! Some exceptions do apply such as if you are on maternity/paternity leave, retired or semi retired, long term disability etc. I handle these on a case by case basis.

Does My Credit Score Matter?

The credit score is a number based on your history of loans and how you have paid them back. It also records any missed payments or defaults you may have had in the past. Depending how well or not well you were with you loans or payments will be reflected by your score. Lenders look at your score as a quick summary of how well you have done. There are many other things they do look at as well.

I Work For Myself, Can I Still Get A Mortgage?

For  sure you can. When working for yourself you are most likely a registered corporate company or what is called a sole proprietor. Depending on which you are, documents will vary that are needed by the lender. Lenders will also require you to have a minimum of 2 years of paying taxes so they can see your history of what you are doing and have something to go off of.

I Work 2 Part Time Jobs, Can I Use The Income For Both?

Yes most lenders will look at 2 part time jobs and would prefer if you worked for at least 2 years but will look at shorter terms. Other factors go into deciding whether to accept 2 part time jobs such as past history and length in each job and any other circumstances around them. 

I Just Started A New Job And I Am On Probation.

Pretty much all lenders want to see you off of your probation before getting a loan. Other things such as how long have you been doing the same career or position will be looked at as well. I do have 1 lender that will allow you to be on probation.

How Much Do I Need For A Down Payment?

As long as the home you are looking to purchase is your primary residence, you can put as little as 5% down.

I Do Not Have All The Funds For The Down Payment.

When it comes to getting money for a down payment, lenders want to see you save up for it. You can also use up to $35,000 from your RRSPs in order to borrow for your down payment. Lenders will also allow you to be gifted the funds from an immediate family member such as your mother or father, brothers or sisters. Some will also allow an early inheritance from grandparents too.

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