Personal Finance Canada

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Weekly Discussion - Personal Finance in Canada (lemmy.ca)

submitted 11 months ago* (last edited 11 months ago) by affairesdepiasses@lemmy.ca to c/personalfinancecanada@lemmy.ca

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Each week, we invite you to join this open conversation on a wide range of financial topics. Whether you're interested in real estate, investments, the stock market, salary-related queries, or simply have general questions about managing your finances, this post is for you.

Feel free to participate, regardless of your level of experience or specific interests in finance, and share your questions and experiences!

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[–] knapsackinjury@programming.dev 5 points 11 months ago (6 children)

I'm thinking about moving from BC to Alberta to have the ability to buy my first home. My partner is currently pregnant and we were thinking of moving during her maternity leave so we have some extra income when applying for a mortgage. But would this income even be considered when applying since it isn't continuing after her leave? She also probably wouldn't be returning to the same job if we move to a different province.

[–] Lautrebeacon@lemmy.ca 4 points 11 months ago (2 children)

From what I know, income from a job is not considered if you plan on leaving you job in order to buy the house. You will need to have jobs (or promise of emplyment) in Alberta in order to have income in the eyes of the mortgage lender. Not sure how maternity leave fits in all that, but from my guess since it's a temporary income it won't be considered. (I am not a financial advisor, bought a house in Quebec last year and did a bit of research)

[–] knapsackinjury@programming.dev 1 points 11 months ago

Thanks. That's what I was assuming. My job is remote, so that income is fine.

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