Getting a mortgage
 

In Alberta i know that most mortgage companies do not tend to take Part time wages into account when calculating how much you can get for a mortgage -does anyone know if this is same in BC?
When we first get to BC we will rent but would like to buy asap. I will only be able to work part time due to Childcare. Does this mean we will have to reply on Hubbys wages alone for the mortgage??

Thanks

Re: Getting a mortgage
 

Since when????

Re: Getting a mortgage
 

This is what i have been told by a realtor in Alberta when researching.
You know something different? please tell....

Re: Getting a mortgage
 

Maybe you'd be better off talking to a mortgage broker or bank rather than a house seller.

Re: Getting a mortgage
 

Fair point, do the realtors know nothing about mortgages then? Surely they have an idea as they work alongside brokers etc don't they?

Re: Getting a mortgage
 

The 'brokers' I use (actually attached to Banks) will qualify anyone who has sufficient REGULAR income (ie NOT temporary) from any source.
CMHC at my last seminar with them will also accept any REGULAR and GUARANTEED income from any world wide source

:thumbsup::thumbsup:

Some do, others talk outta their arses (a bit like the general public really)

Re: Getting a mortgage
 

There is absolutely no reason why a lender would not accept confirmable part-time employment income, provided the employment is not temporary or casual in nature.
I think the thread poster has been told a porker.

Re: Getting a mortgage
 

Forget my entire thread - i have just called the realtor that i have spoken to in the past and it seems i have completely misunderstood the info given. It would seem that it is as above and it may be difficult if you have only temp part time work.

You are all correct - i bow to you!

:D

Thanks

Re: Getting a mortgage
 

Am closing this thread at OP's request. :)