I Just Changed Jobs, Can I Qualify For A Mortgage?
Author: Boychuk Mortgage Group |
Absolutely!
Generally speaking, if you are paid salary or have minimum guaranteed hours a week, we can use your letter of employment to help you qualify.
Alternatively, if your 2-year T4 averaged income is higher than your letter of employment income we can increase your borrowing power with your letter of employment. Given you earn the majority of your income via OT, commission, or bonus’s, and we can show that you have made a lateral move to a new position in a similar industry, we can justify maxing out your T4 averaged out income to qualify.