Quote:
Originally Posted by Elli
You know what's interesting? I was just talking to a mortgage broker yesterday. She said that banks right now in CANADA are looking to lend mortgage loans to entrepeneurs. That old requirement that you have 3 - 5 years of tax forms to prove your income if you're self employed? They don't care any more. If you've got enough gumption to strike out on your own, the banks LOVE THAT and want to get you into a mortgage.
Now, call me crazy, but that sounds like Canada's own version of a subprime / nodoc/l lowdoc crisis.
|
what bank is this? td bank didn't like the fact that was 'self employed' due to the fact that people like us write off all we can to make our incomes looks smaller than they actually are and the cmha won't take 'stated income' from self employed people anymore. in the end they wanted a larger downpayment than we had.