Parental leave mortgage for a property in Thetford Mines
While you’re on parental leave, a lender can count your pre-leave salary if your employer confirms you’re coming back. What a Thetford Mines file needs.
The lender’s real question: will this income keep coming? A new employer in the same field is easy to defend. A probation period or a leave depends on the employer’s letter and the expected return date. Policies vary enough that one refusal doesn’t settle anything.
Papers to gather first
An employment letter that states the position, the salary, the start date and, if it applies, the end of probation or the return date. Add the pay stubs you have and your notices of assessment from earlier years, which show the income carried through the change.
Income documents
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 Thetford Mines.
Income period reviewed in Thetford Mines
Depending on where the income comes from, the file in Thetford Mines may need the current year, a two-year average, or just confirmation of employment.
Supporting records
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.
Lenders that can assess the file
Your pre-leave income can be used if the employer’s letter confirms the position and the return date. Without that letter, the leave benefit becomes the base, and it’s a lot lower.
To prepare
What to gather.
Income history
Current employment
Recent pay records
Tax documents
Debt ratios
Lender income rules
Frequently asked
Can the file be reviewed remotely?+
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.
Do I have to wait until probation ends to buy?+
Not necessarily. Several lenders accept a file during probation if the employment letter is clear and the field hasn’t changed. Others want three months. That’s their internal policy, not a general rule.
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.
