Are employment probationary periods deal killers?
When it comes to income verification for a mortgage a recent paystub and an employment letter will typically do the trick, even if you're a new hire and just have one full pay cycle under your belt. However, things could get a little dicey if you are currently in a period of probation with your new
More stress coming to the mortgage stress test on June 1?
On Thursday April 8 (yesterday), The Office of the Superintendent of Financial Institutions, OSFI (the Canadian Bank watchdog) announced that they are proposing changes to the current stress test rule. So basically, consider this the last-call bell to qualify under the current stress test until June
Why April is a critical time for self employed applicants
If you're self employed and qualifying for a mortgage right now (April), you are either gleaming with optimism or white knuckling your way to the finish line. And here's why...When qualifying as a self employed applicant, your qualifying income is determined from your most recent 2 year average (of
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