HarryB
04-25-2012, 10:32 PM
Got a question for the beyond real estate professionals:
I am renting at the moment in GP and was looking to purchase a house by the end of the year. My income is part salary and part field bonuses...this year im on track to make 120K, last year made 97K and year before that (when i first got this job) i made 65K. Im married and mine and wifes salary is 100K. I have a property under my name in edmonton, currently rented out and I have never lived there so still eligible for HBP. my debt includes student loan and car, and wife has a car almost paid off too.
Question is, if im looking to buy a house this year, would all the banks need 2 years of notice of assessment if I want to include my bonuses as my income? or you guys think my salary and wifes would be ok to get 300K mortgage. One of the co-workers recently got a mortgage and he had to just submit his pay stubs proving his income, not notice of asseseement through scotiabank. However, when i got the mortgage through TD earlier this year, they averaged my 2010 and 2011 notice of assessment which was about 10K more then my salary ( started with halliburton midway 2010).
Just wanted to see what you guys think so I have a little more idea what to look forward to. would scotiabank be a better option to go with...especially cuz i have a house already with TD?
I am renting at the moment in GP and was looking to purchase a house by the end of the year. My income is part salary and part field bonuses...this year im on track to make 120K, last year made 97K and year before that (when i first got this job) i made 65K. Im married and mine and wifes salary is 100K. I have a property under my name in edmonton, currently rented out and I have never lived there so still eligible for HBP. my debt includes student loan and car, and wife has a car almost paid off too.
Question is, if im looking to buy a house this year, would all the banks need 2 years of notice of assessment if I want to include my bonuses as my income? or you guys think my salary and wifes would be ok to get 300K mortgage. One of the co-workers recently got a mortgage and he had to just submit his pay stubs proving his income, not notice of asseseement through scotiabank. However, when i got the mortgage through TD earlier this year, they averaged my 2010 and 2011 notice of assessment which was about 10K more then my salary ( started with halliburton midway 2010).
Just wanted to see what you guys think so I have a little more idea what to look forward to. would scotiabank be a better option to go with...especially cuz i have a house already with TD?