equitable bank
BDM
Suzanne Fleur de Lys-Aujla (British Columbia)
Ph: 604-360-2896
Email: saujla@eqbank.ca
Web: equitablebank.ca
Program Details
Stated Information:
- Registered/Non-Registered Businesses considered
- Minimum 6 months BFS
- Viability of income through bank statements, commission income letter, contracts, etc.
- Foreign BFS income considered
- New Immigrants/Limited Credit considered
- Gifted down payment accepted
- GDS/TDS up to 48%
- 30 Year Amortization
Registered Business Owners
- Sole Proprietor/Partnerships, Corporations:
- Articles of Incorporation or Master Business License or
- 2-3 reference letters if the business is non-registered
- Self-Declared Income Letter
- Minimum 3- 6 Months Bank Statements
- Non-Registered Business Owners/Income Not Taxed At Source
- Non-Registered Business Owners – Daycare Providers:
- GST Number or 2-3 reference letters
- Self-Declared Income Letter
- Minimum 3 – 6 Months Bank Statements
- Non-Registered Business Owners
- Commissioned Sales – Realtors, Financial Planners, Car Salesman:
- Job Letter confirming employment
- Self-Declared Income Letter
- Gross Commission Statements
- Minimum 6 Months Bank Statements
- Non-Registered Business Owners
- Contract Employees – Consultants, Truck Drivers:
- A copy of the contract confirming taxes not deducted and income breakdown
- Self-Declared Income Letter
- Minimum 3 Months Bank Statements
- Non-Registered Business Owners
- Gratuity Based Income – Bartenders, Waitresses,
- Taxi Drivers, Hair Dressers:
- Job Letter confirming employment
- Self-Declared Income Letter
- Minimum 3 months Bank Statements
Additional documents may be required depending on the overall file
Niche Market: Investors
- 100% Addback of the rental income used on
- owner-occupied rentals
- 80% offset non – subject and subject
- Maximum up to four-plex
- Multiple rental units in client portfolio allowed
- Business-For-Self clients accepted
- Fair market rents required on each appraisal
Imperfect Credit Applicants
- Unique personal circumstances (divorce, illness, loss of job, etc.)
- New immigrants with limited or no credit
- Beacon scores < 550 considered
- LTV up to 75% on the purchase or 65% on a refinance