No-Income Mortgage in Alberta: Frequently Asked Questions

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Can I Obtain a Mortgage if I Have No Proof of Income?

The value of your property and its location are major variables. When there’s sufficient home equity, a mortgage may be obtained without proof of income; in fact, up to 75% of home equity loans may be made without income verification. The mortgage with the lowest loan-to-value ratio and the best interest rate for borrowers without income verification will become available to those with good credit and low debt. These products are provided by alternative or private lenders.

Can I Obtain a Mortgage if I Recently Changed Jobs?

If you have paid employment and are not in a probationary phase, you may be eligible for bank financing.

If you have just changed employment and are in a probationary period, commissioned or self-employed, you may still be eligible for financing. Still, this will likely be through the alternative mortgage market or the private mortgage market.

Can I Obtain a Mortgage if I Recently Lost My Job?

You may get loans on your property to bridge the gap between employment. Again, this will occur in the private mortgage market. The loan-to-value ratio will influence how much you may borrow. If you have substantial home equity, lenders will likely grant you a loan with little or no stipulations. Some lenders may demand a one-year mortgage prepayment if you pursue a loan with a greater loan-to-value ratio, enabling you to focus on obtaining employment rather than making payments.

Can I Obtain a Mortgage if I Am Relocating for Work?

If you are relocating but staying with the same employer, or if your new employer is willing to waive the three-monthCan I Obtain a Mortgage if I Am Relocating probationary period, you may apply for financing with a conventional mortgage lender. You will likely qualify only with “B” lenders or private mortgage lenders if you are currently on probation.

Low-Rate, No-Income Verification Mortgages

The mortgages with the lowest interest rates and no income requirements are declared income products. These are made available by banks and “B” lenders. Stated income products still need tax return verification and some schemes are asset-based.

Choose Amansad Financial

Private, Alternative and Traditional Mortgage Solutions

Amansad Direct Lending Group offers mortgage lending options that banks would not consider. We provide our valued customers with the courage to overcome urgent financial challenges and the hope for a brighter future. Our private mortgage selections are generally based on the property, equity, capacity to make payments, affordability, and a solid strategy to convert to non-private financing within an acceptable time frame.

Whether a property is residential, land, or commercial, Amansad Direct Lending Group has the resources, private lender and investor connections, and tools to locate the appropriate funds. Contact us for a customized Private Mortgage Solution.

We Help All Types of Borrowers

  • Home Equity Mortgage Loans
  • Second / Third Mortgages
  • Foreclosure Prevention
  • Liens, Writs, Collections
  • Payment Judgments
  • Property Tax Arrears, CRA, Ex-Spouses
  • Mortgage Refinancing
  • Mortgage Renewal
  • Bad Credit Mortgages
  • Reverse Mortgages
  • Land Refinancing
  • Commercial Refinancing
  • Home Purchase
  • Land Purchase
  • Construction Mortgages
  • Private Mortgages
  • Commercial Mortgage
  • Manufactured Home Mortgages
  • Business Loans
  • Title Loans
  • Seller Financing
  • Home Improvement and Addition Funding
  • 1st Time Home Buyers
  • Self Employed
  • Poor Credit Applications
  • New to Canada Applicants
  • Commercial Applicants
  • Home Builders
  • Land Owners
  • And More

Please contact us at (877) 756-1119 for more information on no-income mortgages in Alberta or visit amansadfinancial.com online today.