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Mortgage Broker News | 03 Sep 2015, 08:15 AM Agree 0
Things can be tricky come time to secure mortgage financing for self-employed clients, but that segment represent almost one in five Canadians borrowers and unlimited potential for broker business
  • Gerald D | 03 Sep 2015, 04:47 PM Agree 0
    The Lenders here are not just concerned about the coverage of the loan, but of potential tax liability. If a borrower lives in a 1.0MM home, but only shows income of 35k to the government, and 150k to the lender. The lender will realize that tax liabilities on the 115k difference are likely going to come home to roost during the loan. Needless to say, that liability is going to take priority over the mortgage liability.
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