City served
A contract renewed for two years reads almost like a salary. What a lender asks of a contract worker buying in Amqui.
A lender doesn’t read business income like a salary. Some take a two-year average after expenses. Others will add back non-recurring expenses, or look at the company’s own income. That difference in how they read it decides the answer more than the amount does.
Two years of complete notices of assessment and T1s, your financial statements or balance sheets if you’re incorporated, and recent business account statements. If you expect some expenses to be added back to qualifying income, bring what backs them up.
Two years of notices of assessment, recent pay stubs and an employment letter. The lender trusts what your tax records show, not what lands in your account. Income that shows up nowhere doesn’t exist for a purchase in Amqui.
Depending on where the income comes from, the file in Amqui may need the current year, a two-year average, or just confirmation of employment.
Notices of assessment, tax returns, financial statements, pay stubs, deposit records. Have it all ready before you make an offer. That’s what lets you work with a short financing condition, since the delay nearly always comes from a third party who hasn’t sent their paper yet.
A contract renewed over two years in the same field stands up almost like a salary. A first contract with no history needs a co-signer or a bigger down payment.
To prepare
Yes. Phone, email or video call, with documents sent online. We can meet in person if you’d rather, but most files get done without anyone driving anywhere.
Yes, if the declared income supports the loan. The rate follows the file, not your status. What caps the amount is net income after expenses, and that’s where your choice of lender changes the outcome.
Pick the situation closest to yours.
Contact
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.