It will be extremely hard to get an approval for a mortgage without employment proof. No matter what is the down payment, the bank needs to see that you are able to cope with the monthly mortgage payments and other payments associates to owning a home like property taxes, maintenance and utilities. You might need to apply as self employed and have a large down payment. Then you will have more options and you might be approved if you will not state the fact that you are on a disability.

Hello Denice, Long term disability is still considered income in Canada. It is assumed that if you were to come off disability that you will be earning much higher anyway if you were to go back into your field. Not every lender does look upon it kindly though and they will want to make sure there are other strong points to the mortgage application. Its hard to categorize each and every possible scenario here on this reply but I would be happy to discuss your unique situation with you and give my thoughts on the matter. This goes for any reader you has similar questions. Give me a call anytime. Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 x 115 http://www.centum.ca/abraham_niyazi/ I deal with 25 lenders and can do mortgages across Canada except Quebec.

does going on unemployment affect your chances of getting a mortgage?

can i qualify for a mortgage on long turm disabilty

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Hi all. ok so my question is in regards to a condo my mom bought about 2 years ago. it is a brand new condo thats is almost done being built. she has already put down $18000 as downpayment on it. here is where the problem starts. she was working fulltime when she bought the condo so i guess she didnt bother to get pre qualified for a mortgage, she just told me 2 weeks ago that she still has to apply for a mortgage. problem is, she is currently on long term disability and what she makes now wont be enough to qualify her for the mortgage. i cant co sign with her becuz im goin on maternity leave in a month, plus my credit is crap so no bank in their right mind would even think of giving me a mortage. so its either we get a mortgage and keep the condo or fail and lose the condo and the down payment already made on it. what other options do we have. is there anyway we can get at least half the the downpayment back if we do not get approved for the mortgage? please help.

I think you're asking the wrong question. Rather than asking how can you get this mortgage approved, you should be asking how you can void this contract. I think you realize that your mother cannot afford this new condo and neither can you. That's not a put-down, it's just reality. It would be far better not to buy it than to take on a long-term liability that you are bound to fall behind on. The one thing that stands out in my mind is that it has been 2 years since you put the deposit on the unit. Was there any deadline for completion in the contract? It seems to me that 2 years is an unreasonable amount of time to hold on for. Contact an attorney see if you can void the contract on its face. You would get your deposit refunded.

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My ex-boyfriend and i bought a house together in may of 2007. long story short, in july 07 he quit his job to build his own business, in dec 07 i was diagnosed with cancer, and my salary, credit, and disability paid most of our bills, including mortgage. we went on forebearance in october 08. we broke up in feb of this year. he is in the process of moving out, and i want to keep the house. i qualify for home affordability modification on my own, but would not qualify for a regular re-finance. i know a quit-claim just removes him from the title, but not the mortgage note. even though i have been paying the mortgage on my own for many months, he is unsure about staying on the note in case i die or something. what other course do we have to remove him from the loan? it is a freddie mac loan serviced through citimortgage. is assumption or novation a possibility (i have only heard these terms, not sure about the details)?

Here's the short answer: You don't. The contract was between the lender and both of you. The only way to change it is to refinance and get a totally new loan . Assumption means another party would assume the loan, probably not allowed on your loan and would only apply if you wanted to get rid of it. A novation substitutes one obligation for another, and you would need to talk to the lender about that. I've been in mortgages since 1997, and I've never heard it mentioned around here. I only know because I took some real estate law classes.

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I am a single mother of 2 children who recently became sick and unable to work at my current job. i've 'never' been without a job, so this is all new to me. since my employer does not have short term disabilty, i had to go on unemployment insurance sickness benefits. the amount i get from them is less than 1/2 of what my regular salary was. i have a mortgage payment, property taxes, hydro, gas, telephone, and other expenses that my now very limited income doesn't cover. i've had to ask 'family' for assistance but that can't go on forever. i need to know what resources there are out there to assist me temporarily through this time. the sickness i have does not enable me to work as i encounter blackouts etc. i no longer am allowed to drive and am at the mercy of others to get me and my family the places we need. if anyone knows of any assistance i may be entitled to i would appreciate it. i live in a small town in southwestern ontario.. i've checked into ontario works and the ontario disability program but apparently i make too much money and dont' qualify. any advice will help! thank you! :)

I would contact your local public aid department. They have several programs that you can go on to help pay for certain bills such as high electric bills, food, cash assistance until you can get back on your feet. SOmetimes if you contact your mortgage company maybe you can refinance your loan to have cheaper payments . Is there some kind of work that you can do at home. I know some companies such as westathome.com allows you to work from home and you can pick and choose your hours.