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For borrowers with non-taxable income, lenders may now
gross-up this income for the purpose of mortgage qualifying.
Some examples of non-taxable include are foster care,
ministry work, non-taxable pension, and Indian Act Exemption
for employment income.
- Borrowers with non-taxable income less than $30,000,
are eligible to have their entire non-taxable income
grossed-up by 25%.
- Borrowers with non-taxable income of $30,000 or
more, are eligible to have their entire non-taxable
income grossed-up by 35%.
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