What matters is whether the income is declared and steady. A lender that wants two years of history will turn down a file another accepts on a twelve-month average. Undeclared income counts nowhere, whatever the amount.
Documents before comparison
Two years of notices of assessment, still the one proof a lender accepts without argument. Add your employment or commission statements for the period and, if your income follows the seasons, something that shows a full year and not just your best months.
Income paperwork
Two years of notices of assessment, recent pay stubs and an employment letter. The lender goes by what your tax records show, not by what lands in your account. Income that shows up nowhere doesn’t count toward a purchase in Côte-Nord.
Which income period counts in Côte-Nord
The lender picks the period: current-year income, a two-year average, or an employment confirmation. It depends on how you’re paid.
Backup records
Notices of assessment, tax returns, financial statements, pay stubs, deposit records: gather them before you make an offer. A short financing condition only works if the file is ready, because the delay nearly always comes from someone who hasn’t sent their document.
Who can assess this file
Tips only count if you’ve declared them. The lender works from your notices of assessment, not from what you take home, and alternative lenders aren’t more flexible on that.
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. 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.
How does a lender calculate income that changes month to month?+
It gets averaged, over one or two years depending on the lender, from what is declared. A good month counts no more than a bad one, and income missing from your notices of assessment does not count at all.
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.
