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What Do I Need To Apply For A Mortgage, Garibaldi Mortgage
Posted by Denise Brown on
When applying for mortgage financing today it is ever more important to have your paperwork organized and ready to go…
Anticipating and providing what the banks need help to increase the success for approval, and make the process more efficient when offers are written and subject removal deadlines have to be met.
Here is a list of the items that will likely be required from you:
- Your last 2 years T-1 General tax returns and the Notices of Assessment to go with each year. Why do you have to provide both? Because the banks want to see the T-1 General returns to see the source of where and how your income was earned, and the Notices of Assessment to confirm that the returns were filed properly and accurately.
- Employment letter on company…
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Buyers make when purchasing a home
Licensees who act outside their area of expertise and knowledge run a higher risk of making a mistake than those who stick to what they know. A real estate licensee in BC holding a trading license is not restricted in the type or location of property they are listing, selling or leasing. However, licensees should give careful consideration before stepping outside their comfort zone as there are several potential pitfalls. For example, licensees selling residential real estate may not be familiar with issues unique to the sale of commercial properties or businesses. Licensees working mainly in one municipality may not be familiar with zoning, bylaw,…
Properties covered by the phase one nightly rental covenant require that when the property is not being utilized for personal use it be made available 90% of the time for a rental through a bonafide property rental management company. With most phase 1 properties you have the flexibility to choose your own rental management company or organize your own nightly rentals. Your property does need to be occupied for it to earn revenue.
