Earlier mortgage approval for the self-employed: New guidelines have been released that may help self-employed people secure a mortgage. The new guidelines are meant to help those who have worked for themselves for less than two years, and are not able to provide the standard 2 year history of personal income taxes. Those that are under this category still need to show that they have been within the same line of work as they had been before they were self-employed. For example, a geologist who was working as an employee for an oil company, but has left the oil company and started their own geology consulting company can now be qualified for a mortgage -without first having 2 full years of personal business documentation. Think this change might affect you or someone you know? Check out the basic info on the new guidelines: Changes are meant to help those that have not been self-employed for 2 full tax years and are not able to provide the standard 2 year history of personal income taxes. Lenders will still use the lesser of last 2 years of income or most recent year for qualifying. For someone that is less than 1 year self-employed, lenders can use the previous 2 years of T4 income. For self-employed clients that have 1 year of taxes to show in the business, lenders will use the T1 general, notice of assessment and T2 or business financials if they are incorporated. The client must show reasonable proof for why they fit under the new guidelines. Contracts or previous history in the line of work are required. ...
The New Year brings much hope and excitement, as the calendar grants a fresh start for everyone. You deserve a fresh start this New Year – and so does your home! Rejuvenate your infill home interior with the following 3 easy resolutions: Purge and de-clutter After cleaning up the last of the holiday decorations, the New Year is a perfect time to clean and do a purge of each room in the house. Sort through the clutter and store or dispose of items as appropriate. Especially go through those areas where things tend to get thrown when you’re not sure where else it should go. Sometimes, adding additional storage such as a shelf or book case will solve a clutter issue. Removing unnecessary items such as old mail/magazines, items used less than 3 times a year and items that could be replaced with modern versions will re-open your space. Removing the clutter reduces stress and helps remove “mental clutter” as well. Joshua Becker has some amazing tips on how-to-declutter on the website https://www.becomingminimalist.com/creative-ways-to-declutter/ Clear the air! It is always a good time to improve your health and create a healthier home. Improving air quality in your home improves your well-being and re-sale value of your infill home. Changing your furnace filter regularly, buying a humidifier/air purifier, quitting smoking or employing some air purifying plants are all ways to significantly improve air quality. Indoor plants such as Areca, Lady and Bamboo Palm, rubber plant and peace lily are all proven to improve indoor air quality and remove air toxins. https://learn.eartheasy.com/articles/the-top-10-plants-for-removing-indoor-toxins/ Lose weight while… Maintaining your home! Regular home cleaning and...
