5 min

Let's get some basic information

First Name
Last Name

Email Address
Phone Number
How did you hear about us?
Share where you heard about us

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Mortgage Amount
Property Location

Monthly Condo Fee (If Applicable)
Monthly Debt Payments

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Calculate

Quick Tip

Fill in the inputs to calculate the minimum amount of income you need in order to qualify for your desired property.

Disclaimer: This calculation is an estimate based on the accuracy and completeness of the information you have entered and is provided to you for illustrative and general information purposes only. This calculation does not mean you have been approved by EQRAZ. EQRAZ does not make any express or implied warranties or representation to any information or results in connection with the calculation. EQRAZ will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on the calculation. When you submit an application, the profit rate may have changed or may be different depending on EQRAZ’ review of your application in its sole, absolute, and unfettered discretion. Additional conditions may apply.

Calculate your maximum financing amount:

Gross Annual Income
Property Location

Monthly Debt Payments

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Calculate

This calculation is an estimate based on the accuracy and completeness of the information you have entered and is provided to you for illustrative and general information purposes only. This calculation does not mean you have been approved by EQRAZ. EQRAZ does not make any express or implied warranties or representation to any information or results in connection with the calculation. EQRAZ will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on the calculation. When you submit an application, the profit rate may have changed or may be different depending on EQRAZ’s review of your application in its sole, absolute, and unfettered discretion. Additional conditions may apply.

Your cosigner will also need to provide the following documents based on their income sources:

Cosigner proof of income requires:

2 Years T1 – Generals with NOA and Statement of Business activities
2 Years T4s and T5s
Last 3 months business bank statements
Articles of Incorporation
Valid Business License (will conduct a corporate name search)
Last Two recent paystubs
Last Two years T4 slips
Most recent Employment letter based on application date
90-day bank account history confirming deposit of earnings
Two most recent NOA’s or Customer must provide a signed affidavit declaring the income used to qualify
In addition, the declared income must be supported by:
6 months bank statements and
Sales order contracts, invoices, or employment contract to confirm income generated

I understand I will need these documents for my application

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Disclaimer: These are draft guidelines for internal use only, subject to change in accordance with EQRAZ’ risk management guidelines and policies. Ultimately, EQRAZ retains the right to approve or reject all applications at its own discretion.

QUICK TIP

* CCB (Canada Child Benefit) allowed as a valid source of income but consideration will be given to the age of the child in order to determine how long a homeowner can rely on this source of income.
*Rental income is not allowed
*Non-declared income is not allowed
*Foreign income is conditionally allowed if declared on NOA

Let’s make sure you have the documents that you’ll need. What type of income do you have?

SELF EMPLOYED FULL-TIME BOTH OTHER

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Documents Required For Income

Proof of income documents required for :

2 Years T1 – Generals with NOA and Statement of Business activities
2 Years T4s and T5s
Last 3 months business bank statements
Articles of Incorporation
Valid Business License (will conduct a corporate name search)
Commission sales letter or employment contract confirming commission arrangement
In addition, the declared income must be supported by:
6 months bank statements and
Sales order contracts, or invoices to confirm income generated

Last Two recent paystubs
Last Two years T4 slips
Most recent Employment letter based on application date
90-day bank account history confirming deposit of earnings
Two most recent NOA’s or Customer must provide a signed affidavit declaring the income used to qualify
In addition, the declared income must be supported by:
6 months bank statements and
Employment contract to confirm income generated

2 Years T1 – Generals with NOA and Statement of Business activities
2 Years T4s and T5s
Last 3 months business bank statements
Articles of Incorporation
Valid Business License (will conduct a corporate name search)
Last Two recent paystubs
Last Two years T4 slips
Most recent Employment letter based on application date
90-day bank account history confirming deposit of earnings
Two most recent NOA’s or Customer must provide a signed affidavit declaring the income used to qualify
In addition, the declared income must be supported by:
6 months bank statements and
Sales order contracts, invoices, or employment contract to confirm income generated

I understand that I will need these documents for my application

back

QUICK TIP

* CCB (Canada Child Benefit) allowed as a valid source of income but consideration will be given to the age of the child in order to determine how long a homeowner can rely on this source of income.
*Rental income is not allowed
*Non-declared income is not allowed
*Foreign income is conditionally allowed if declared on NOA

Good News, you're qualified!

Based on the information you provided, you have a high chance of qualifying for an EQRAZ mortgage. Please proceed with your formal application that will take around 20 minutes to complete. You do have the option to start the application and save your progress to complete later.

Review these important resources to learn more about EQRAZ' halal home mortgage

Mortgage Termsheet

Closing Process & Fees

Shariah Certificate

Fatwa – CCIRI (Mufti Mirza Zain Baig)

PROCEED TO APPLICATION

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Let’s discuss your home buying plans

Based on the information provided, you did not qualify to apply at this time.

Your annual income does not qualify for your desired property. You may go back to adjust the property value to meet your minimum income requirements.

We'll need some more information based on your income source before you can continue to your application, please contact us below

We'd like to discuss your specific circumstances, please contact our product experts below:

Contact our product experts

SEND MESSAGE

Learn more about EQRAZ Halal Mortgage

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First, find out if you qualify!

Find out if you qualify!

RESOURCES

Let's get some basic information

Salaam , when are you looking to purchase or refinance your property?

Is your annual, pre-tax income enough for the property you’re looking to finance?

Note, our current five year profit rate is 9.75%

Do you have the minimum annual income required?

Quick Tip

Since income requirements are not met, please select one of the options below:

Calculate your maximum financing amount:

$ 709,650

$ 709,650

Do you have funds to pay the down payment for a property at this price?

QUICK TIP

Let’s make sure you have the documents that you’ll need. What type of income do you have?

Documents Required For Income

QUICK TIP

What is your source of income?

Your qualification status is ready.

Good News, you're qualified!

Let’s discuss your home buying plans

Based on the information provided, you did not qualify to apply at this time.

Contact our product experts

First, find out if you qualify!

Find out if you qualify!

RESOURCES

Let's get some basic information

Salaam , when are you looking to purchase or refinance your property?

Is your annual, pre-tax income enough for the property you’re looking to finance? Note, our current five year profit rate is 9.75%

Do you have the minimum annual income required?

Quick Tip

Since income requirements are not met, please select one of the options below:

Calculate your maximum financing amount:

$ 709,650

$ 709,650

Do you have funds to pay the down payment for a property at this price?

QUICK TIP

Let’s make sure you have the documents that you’ll need. What type of income do you have?

Documents Required For Income

QUICK TIP

What is your source of income?

Your qualification status is ready.

Good News, you're qualified!

Let’s discuss your home buying plans

Based on the information provided, you did not qualify to apply at this time.

Contact our product experts

Is your annual, pre-tax income enough for the property you’re looking to finance?

Note, our current five year profit rate is 9.75%