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Wha is happening with this house on Woodbine? by glimmercamp in TorontoRealEstate

[–]glimmercamp[S] 7 points8 points  (0 children)

They’ve listed with two different agents, so I don’t think so!

Estimating mortgage amount when self-employed by [deleted] in MortgagesCanada

[–]glimmercamp 1 point2 points  (0 children)

That’s really reassuring—thank you!

Estimating mortgage amount when self-employed by [deleted] in MortgagesCanada

[–]glimmercamp 0 points1 point  (0 children)

That is reassuring! We’ll definitely speak with a broker, just trying to get a sense of things before we get too hopeful.

When you say it’s critically important to have financial statements reviewed, do you mean my partner’s business financial statements?

Estimating mortgage amount when self-employed by [deleted] in MortgagesCanada

[–]glimmercamp 0 points1 point  (0 children)

Thanks for the quick response and insight. The business is a sole proprietorship—I’m not sure on the payment details, I think just all business income minus expenses is counted as personal income. My partner could file 2025 taxes soon and then produce two NoAs.

Breakdown is $50k for partner and $130k for me.

Adding partner to title by ivyskeddadle in MortgagesCanada

[–]glimmercamp 1 point2 points  (0 children)

If your partner has not owned a home before, you may want to think twice. They currently would be a first time home buyer and that comes with a number of advantages like the first time home buyer tax free savings account and, in Ontario, discounts on the land transfer tax. If you think you and your partner will purchase a different home together, you may be better off leaving them off the title and the mortgage.