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Retirement income is stable, and most lenders accept an amortization that runs past retirement age. On a Rive-Nord file, the amount is the limit, not the age.
Pension income is stable, and that works for you, but it is often lower than the salary it replaces. The lender adds up the pensions and the investment withdrawals, and most will accept an amortization past retirement age if the income holds.
Your pension statements (QPP, Old Age Security, employer plan) and your notices of assessment. If part of the income comes from investment withdrawals, the account statements, and something showing those withdrawals can keep going.
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 Rive-Nord.
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 Rive-Nord.
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.
Pensions add up (QPP, Old Age Security, employer plan), and their stability works for you. Most lenders accept an amortization that runs past retirement age.
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.
Yes. Pension income is stable, which works for you, and most lenders accept an amortization that runs past retirement age if the income holds. What limits you is the amount of income, not your age.
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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.