Mortgagenomics Canada

When it comes to income verification for a mortgage a recent paystub and an employment letter will typically do the trick, even if you're a new hire and just have one full pay cycle under your belt.  However, things could get a little dicey if you are currently in a period of probation with your new employer.  The most common workaround for an applicant who is in the midst of a probationary period is to coordinate the completion date of your purchase with the expiry date of the probationary period.  A lender will proceed with the approval and condition for an updated employment letter and/or recent paystub to verify that the probationary period is no longer in effect. Lender guidelines generally dictate that probationary periods must pass (in their entirety) prior to the completion of the mortgage.  But in many instances a lender will overlook a probationary period provided that a good case can be made.  Here are some real life exceptions I've been granted on several files o