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  • Mortgage for IT contractors using T1 instead of T4

    If i am an IT contractor for 2 years, and every year I reported company income as 150K, but my T4 is only 60k.Is there anyway we can get mortgage based on my incorporation income(T1) instead of personal income (T4)?

    • ilovetoyota
    • Jan 19th, 2021 2:12 pm
    • Forum: Real Estate

  • Mortgage options for new build while waiting to sell

    Looking for advice on how mortgages are handled while buying a new house and trying to sell my current home. We have met with a couple of local builders about new construction and they all require a full mortgage approval prior to start ...

    • RyanS219
    • Jan 17th, 2021 8:54 am
    • Forum: Real Estate

  • Mortgage affordability

    Hi, looking for a reality check on what size mortgage I can realistically get when it comes down to an actual approval vs what the preapprovals say. Salary: $250k (single earner) Downpayment: $300k Prop taxes: ~$600/month Location: West GTA Utilities ...

    • holdthedoor
    • Jan 16th, 2021 11:58 am
    • Forum: Real Estate

  • 10 year mortgage vs 5

    My mortgage renewal is coming up this summer and I know I'll be able to secure a rate that's quite low for a 5 year fixed, but I can only imagine how high rates are going to be in 5+ years given the current situation and wondering ...

    • hierophant
    • Jan 14th, 2021 1:44 pm
    • Forum: Real Estate

  • Mortgage and Maternity Leave

    Are you still able to get a mortgage if your spouse is on an 18 month maternity leave?Lender says that a letter with regular salary on it is required but my wife is an RN and they are paid hourly so her income fluctuates a bit.

    • Topher86
    • Jan 12th, 2021 8:30 pm
    • Forum: Real Estate

  • mortgage with non-big 5 banks

    Is getting mortgage from the lenders other than 5 main banks (TD, BMO, RBC, SCOTIA, CIBC) risky ?For example, First National ,Street Capital, XMCI am getting mortgage from the mortgage broker. They recommended above 3 but I am not sure about the risk.

  • Is getting mortgage through mortgage broker better than bank ?

    Hello, I am a first home buyer and have a few questions. #1. Would it be beneficial to get mortgage from mortgage broker than main bank (TD, RBC, BMO and etc) ? I found the rate is usually much lower with the broker's. #2. I know the mortgage brokers usually lend money ...

  • Mortgage question

    So let's assume I have 2 mortgages with 2 banks using 2 different credit bureaus. If I don't let them know I have 2 mortgages, they won't find it out. Will that be a fraud?

    • ibuddler
    • Jan 6th, 2021 2:29 pm
    • Forum: Real Estate

  • Payoff mortgage or unsecured debts

    ... how best to "use" it. Opt 1: - Pay off unsecured debts (CC+loc). This would bump up the score a bit as well <--43% of $$$ used here - Put annual mortgage pre-payment for 2021 <-- 15% of $$$ - Remainder of funds would be saved for "emergency" <--42% of $$$ - We can take another 15% for 2022, 2023 ...

    • sprinter
    • Jan 6th, 2021 1:59 pm
    • Forum: Personal Finance

  • Down payment for rental property - LOC or onto mortgage

    ... used my LOC for the 20% down payment - about $70k. Question - should I leave that on the LOC or should I transfer amount to my primary residence’s mortgage at a lower interest rate (1.8% vs 3.5%). Since the interest is deductible does it matter? Curious if there’s a benefit to where the down payment ...

    • shanjam
    • Jan 5th, 2021 6:49 pm
    • Forum: Real Estate

  • Mortgage amount for PhD student

    I'm looking into applying for a mortgage in the near future with a co-applicant who's currently a PhD student. They currently have guaranteed tax-free scholarship income (until 2023) totaling to about $35K/year. Will lenders take into account ...

    • crayzie
    • Jan 5th, 2021 6:13 pm
    • Forum: Real Estate

  • max mortgage amount?

    ... debts, no car finance or lease. The property has a legal suite which can generate $1,500 rental income per month. I am wondering what is the max mortgage amount we can get from the big banks?

  • Mortgage with or without spouse

    Hi All, I'm pretty new to Mortgage in Canada. What is the consideration when deciding to put your spouse name in the mortgage or not? From what I read if you don't put your spouse in mortgage the house will be only on your name and if ...

    • jimmod
    • Jan 3rd, 2021 2:48 am
    • Forum: Real Estate

  • 720k mortgage possible on 120k combined income?

    Hey, Is 720k mortgage possible on a 900k house with 20% down? 2 people making around 63k a year, 0 debts aside from car lease which is like 200 a month and 25k in savings. 1 person has another mortgage with his brother. Rental property, ...

  • Mortgage rate, need advice!

    Hi, I am looking to get some recommendations or advice concerning my current mortgage. I have a feeling I am missing out on the new insane low rates. Here is my current situation: I am on a 3 year fixed rate with CIBC at 2.89% Maturity is end of may 2022. So there ...

    • Mcklain
    • Dec 28th, 2020 9:51 am
    • Forum: Real Estate

  • Investment Options For Larger Mortgage

    My wife and I are purchasing our home and want to capitalize on the low mortgage rate by taking out a larger mortgage and investing the excess. We would like some advice regarding what our investment options can be. Our investment options: Maxing out our TFSA ...

    • jayceex86
    • Dec 26th, 2020 3:27 pm
    • Forum: Personal Finance

  • Mortgage questions when Selling and buying new property

    I've shot an email to my mortgage broker but would like some other input as well. We are looking to sell. Just renewed our mortgage a couple months ago at 1.74 fixed, 277k mortgage. If we buy and sell within 90 days we can port the mortgage ...

    • slowtyper
    • Dec 25th, 2020 12:51 am
    • Forum: Real Estate

  • What fees to expect when switching Mortgage providers?

    I am currently with Meridian (my first mortgage( and looking to switch my mortgage provider to BMO or HSBC when my Meridian term expires on May 1st. From my understanding, I will need to pay Meridian a discharge fee of about $300. What fees ...

    • jumanji69
    • Dec 23rd, 2020 10:31 am
    • Forum: Real Estate

  • Rental Mortgage but unemployment

    Currently unemployed. I want to start a rental unit business. I want to get my first rental property but I don't have income since getting laid off. Can the fact that it is a rental property and the future tenant can pay my mortgage good enough so that I can refuse proof of income?

  • want to switch from fixed rate to a variable rate mortgage

    with CIBC now, my fixed rate is 2.9% with 3 years remaining, would it be possible to switch to a variable rate (which is much lower now) with minimum penalties?google says there is something called 'blended rate'...?

    • healsio
    • Dec 21st, 2020 9:24 am
    • Forum: Personal Finance

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