Support you pay enters your ratios like a debt. Support you receive counts as income if it’s court-ordered and paid regularly. How each lender reads it.
Lenders go by your tax documents, not by what actually lands in your account. If money never appears on a notice of assessment, it can’t be counted, however regular it is.
Pick the lender that fits your proof
Variable, self-employed and commission income get handled differently. Some lenders average two years, others take the weaker one. That gap moves the amount you qualify for far more than the rate does.
A thin file gets declined
A missing document invites a refusal a complete file would have dodged. Sort your papers before you submit, so nobody fills the gaps with assumptions.
Documents to gather
What the lender will ask for.
Purpose of the file
Income and documents
Debts and credit
Property or security
Timeline
Lender options
Frequently asked
Which documents should I gather?+
Your last two notices of assessment, recent pay stubs, an employment letter, three months of bank statements and proof of your down payment. If you have them before the offer, a five-day financing condition holds up. If you don’t, expect weeks of delay.
Current rates
Today’s rates, with the fine print.
These rates are indicative. Yours depends on your file, the type of mortgage (insured or not) and the lender. And look at the penalty too, it matters as much as the number.
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.
