CTV News - Mortgage Minute
On this week's Mortgage Minute, Ottawa Mortgage Broker Frank Napolitano sits with Kurt Stoodley to talk about applying for a mortgage with different types of income.
Click here to watch the full video from CTV Ottawa Morning Live.
If you're one of the many Canadians applying for a mortgage who is self-employed, part-time, seasonal or works a different number of hours each week, it may be challenging to produce the proof of income that a lender will want to see. Most lenders require two years history of income, and for those with an irregular income source, proving that can be difficult.
In this week's Mortgage Minute, Frank talks about the different documentation you will need to provide depending on your income situation, and lets applicants know the process doesn't need to be a complicated one. A Mortgage Broker can not only let you know which documents are required depending on your income, but explain the reason why the lender needs it.