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A new job does not stop a purchase in Grand Montréal if the offer letter is clear and the field is the same. What the lender is looking for in it.
Will the income last? That’s what lenders are trying to figure out. Changing employers in the same field goes over well. Probation or leave gets judged on the employer’s letter and the return date, and since policies differ, one decline doesn’t close the door.
Ask your employer for a letter with your position, salary and start date, plus the end of probation or expected return date if relevant. Bring whatever pay stubs you have and past notices of assessment to prove the income didn’t stop when the job changed.
Two years of notices of assessment, recent pay stubs, an employment letter. The lender goes by what your tax records show, not by what lands in your account. Income that shows up nowhere does not count toward a purchase in Grand Montréal.
Depending on where the income comes from, the lender takes the current year, a two-year average or a simple employment confirmation. That period sets the amount, not what you are earning this month. Expect it to differ from one lender to the next in Grand Montréal.
Notices of assessment, tax returns, financial statements, pay stubs, deposit records. Get them all together before you make an offer. That is what makes a short financing condition workable, since the delay nearly always comes from a third party who has not sent their piece yet.
A new employer in the same sector goes through easily, often as of the first pay stub. Changing trades resets the tenure clock with most lenders.
To prepare
Yes. It all runs by phone, email or video call, and documents go through online. We can meet in person, but most files get settled without anyone having to travel.
Not necessarily. Several lenders accept a file during probation when the employment letter is clear and the field is the same. Others ask for three months. That is internal policy, not a general rule.
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.