Quote:
Originally Posted by Deegee
I know personally, we (Credit Union) would like to see Tax Returns with the NOAs. I believe CMHC will be making this a requirement in the future (saw a memo sitting in my inbox that I haven't read in full detail yet).
Too often we are finding one time taxable items like RRSP withdrawals that are not reoccurring and overstate income, even when income is averaged out over two years.
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It is nucking futs people would want to overstate their annual income in order to buy a house they can't afford. Stupid.