Posted on: 22-08-07 10:21:19
Hi Realtor Guru’s,
Does it make a difference in applying/getting a mortgage from a Bank
If you are working for a Company (direct employ)
Or
If you are working for an Agency (contract worker)
Thanks for your time
Tom
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Quote:
Originally posted by Omantom
Hi Realtor Guru’s,
Does it make a difference in applying/getting a mortgage from a Bank
If you are working for a Company (direct employ)
Or
If you are working for an Agency (contract worker)
Thanks for your time
Tom
Banks see a permanent full time employment more favourably than a contract employment. However, every case is different and it also depends on your credit rating, contract length, earning potential, type and time in the field you are in along with down payment.
Once the bank decides to give you mortgage, then there would generally be no difference in the mortgage rate being offered.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Thank you very much Pramodji.
Tom
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Share what u know, Learn what u dont
