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Retirement income is stable, and most lenders accept an amortization that runs past retirement age. On a Capitale-Nationale 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.
You’ll need two years of notices of assessment, recent pay stubs and an employment letter. Tax records rule. Cash deposits that never appear on a return don’t count, whatever you’re buying.
Depending on where the income comes from, the lender may use this year’s figure, a two-year average, or just a confirmation of employment.
Bring the notices of assessment, returns, financial statements, pay stubs and deposit records, and have all of it before the offer. When a financing condition is tight, it’s a third party’s missing paper that sinks it.
Pensions stack (QPP, Old Age Security, employer plan) and their stability works in your favour. Most lenders will 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.