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ARE YOU SELF-EMPLOYED? (NO (COMMISSION ONLY (Current pay statement dated…
ARE YOU SELF-EMPLOYED?
YES
MORE THAN 2 YEARS
Sole Proprietor
Last two years T1 Generals - FULL
Last two years NOA - FULL
Business license or HST #
Incroporated
Current pay statment
LESS THAN 2 YEARS
NO
HOURLY or SALARY
Current pay statement dated within 30 days.
Letter of employment - dated within 40 days
Lender will call employer to verify
COMMISSION ONLY
Current pay statement dated within 30 days.
Letter of employment - dated within 40 days
LAST TWO YEARS T4'S
Lender will call employer to verify
PART-TIME
LESS THAN 2 YEARS WITH THE SAME EMPLOYER
Lender will call employer to verify
Letter of employment - dated within 40 days . Letter must state guaranteed hours per week
Current pay statement dated within 30 days. Pay statement must match the letter of employment hours stated.
MORE THAN 2 YEARS WITH THE SAME EMPLOYER
Current pay statement dated within 30 days
Letter of employment - dated within 40 days
Lender will call employer to verify
Last two years T4's to calculate average income. Please note that if guaranteed hours are higher than the average of two years, we will use guaranteed hours.