Mortgagenomics Canada

Today I'm gonna talk about one of my favourite qualification guidelines - the High Net Worth mortgage.  This is truly one of those money-talks type of products...money talks as in, the more liquid assets you hold, the more mortgage you can qualify for. This mortgage really comes in handy for those applicants that are short on qualifying income, but instead are flush with liquid assets (i.e. non-registered investments, RRSPs, and cash savings).  Here are some common applicant profiles that are well suited for this program:business owners that declare low incomes but have substantial liquid assets (they do qualify, but not for the amount they desire)average income earners who ALSO cannot qualify for the amount they desire due to insufficient qualification income, but have substantial liquid assetsHere are the main qualification criteria:minimum down payment of 20%-35% (varies with lender)in addition to the down payment, the applicant must possess at least $250,000 in liquid assets:Eligible Assets