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A contract renewed for two years reads almost like a salary. What a lender asks of a contract worker who is buying in Capitale-Nationale.
A lender does not read business income like a salary. Some take a two-year average after expenses, others agree to add back non-recurring expenses or to look at the company’s own income. That difference in reading 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 are incorporated, your recent business account statements. If you expect expenses to be added back to qualifying income, pull together what justifies them as well.
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 Capitale-Nationale.
The lender picks the period: current-year income, a two-year average, or an employment confirmation. It depends on how you’re paid.
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.
A contract renewed for two years in the same field holds up almost like a salary. A first contract with no history calls for a co-signer or a bigger down payment.
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, if the declared income supports the loan. The rate follows the file, not the status. What caps the amount is net income after expenses, and that is where the choice of lender changes the result.
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.