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Frequently Asked Questions

16

HOW WILL CHILD SUPPORT AND ALIMONY AFFECT MY MORTGAGE QUALIFICATION?

IF YOU RECEIVE CHILD SUPPORT AND ALIMONY FROM ANOTHER PERSON USUALLY THE AMOUNT YOU RECEIVE CAN BE ADDED TO YOUR TOTAL INCOME BEFORE DETERMINING THE SIZE OF MORTGAGE YOU WILL QUALIFY FOR. OF COURSE PROOF OF REGULAR RECEIPTS MUST BE AVAILABLE FOR A PERIOD OF TIME WHICH IS DETERMINED BY THE LENDER.

IF YOU ARE PAYING CHILD SUPPORT TO ANOTHER PERSON, USUALLY THE AMOUNT PAID OUT IS DEDUCTED FROM YOUR TOTAL INCOME BEFORE ASSESSING THE SIZE OF MORTGAGE YOU WILL QUALIFY FOR.

 

 


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Servicing Office:
Mortgage Edge
144 Wescar Lane,
Ottawa, Ontario K0A 1L0
Tel: 613.836.1751
Fax: 613.836.5951

*All Mortgages arranged and serviced by Mortgage Edge