No job

by Colleen
(Red Deer, AB Canada)

Hello, I would really like to get into real estate investing. I have been a landlord in the past but now find I'm out of work. I have plenty of money but no income to qualify for a mortgage.

Do you have any suggestions about a way around this?

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Feb 24, 2015
 RE: No Job
by: Tom

Thanks for the question!

The Canadian banks make it very difficult for you. They want income. A while back one of the big banks was lending based on "net worth" and "credit score" but I haven't heard of that lately. Your best bet is to reach out to a very active mortgage broker, perhaps they have alternative financing options available through private money that still meet your needs.


Tom.

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