--- title: What factors can I evaluate lending on? description: Below are the factors which are obfuscated to protect the applicants information. We will provide ranges to certain information. --- [Skip to content](https://learning.addyinvest.com/what-factors-can-i-evaluate-a-loan-application-on#main-content) English Show submenu for translations ![addy logo.png\]](https://learning.addyinvest.com/hs-fs/hubfs/logos%20-%20addy/addy%20logo.png?height=40&name=addy%20logo.png) Open main navigation Close main navigation - English Show submenu for translations - [Go to addyinvest.ca](https://addyinvest.ca/) [Go to addyinvest.ca](https://addyinvest.ca/?hsLang=en) Hello 👋 How can we help you? - There are no suggestions because the search field is empty. 1. [addy Help Centre](https://learning.addyinvest.com/?hsLang=en) 2. [Hard Money Loans](https://learning.addyinvest.com/hard-money-loans?hsLang=en) 3. [For Lenders](https://learning.addyinvest.com/hard-money-loans?hsLang=en#for-lenders) # What factors can I evaluate lending on? ## Below are the factors which are obfuscated to protect the applicants information. We will provide ranges to certain information. ### **Applicant Information Section:** **Age** Displayed as a verified age range in 10 year increments (e.g., "18-27, 28-37"). Next to the range, a green checkmark symbol shows that the age has been verified via government ID through a third party source. - Must be of legal age to qualify for a mortgage without a cosigner. - **18 years old**: Alberta, and Ontario - **19 years old**: British Columbia **Financial Institution** Displayed as "Verified Canadian Bank Account" with a green checkmark to confirm that the account and transactions meet the 24-month requirement and verified through a third party source. - Must have a Canadian bank account or equivalent with 24 months of transactions **Residency** Displayed as a line which shows "Eligible Canadian Resident" with a green checkmark next to it indicating residency status verification and verified through a third party source. - Must be a Canadian resident for at least 3 years. The city of the applicant's property is shown (e.g., "Toronto, Ontario") next to a green checkmark indicating the address verification and verified through a third party source. - Must have address indicating where the property is located. ### **Primary Considerations:** **Property Value** A price range is displayed in $100,000 increments (e.g., "$500,000 - $600,000"). The text clarifies that this value was verified through a recent appraisal. Below this, a section outlines the current mortgage/line of credit on the property and the remaining equity. - - An appraisal will be conducted to valuate the property. - The maximum loan to value is 65% (including the first mortgage and/or any line of credits that exist on title). **CSO Search** Displays "No Active Court Searches" with a green checkmark indicating no defaults in the jurisdiction which is verified by addy. - - There are no active court searches related to default in the jurisdiction they are borrowing from. **Title** A green checkmark with the label "Title Verified." Underneath, it states: "Title free of liens/charges" with a further breakdown which is verified by addy. - - All applicants must match the property owners on title, and the title must be free of liens or charges. - Acceptable charges are first mortgage or a HELOC, and assignment of rents. **CRA Taxes** Shows "Zero Balance with CRA" with a green checkmark confirming the applicant is up to date with tax obligations and verified through a third party source. - - The borrower must have a zero balance with the CRA, ensuring no outstanding tax debts that could affect the lender’s claim. ### **Secondary Considerations:** **Credit Score** A gauge graphic shows the credit score range (e.g., "TransUnion 693-742") with a green checkmark verifying third-party confirmation. - - Transunion: 693 and above **Annual Income** The applicant's income is displayed as a range in increasing increments (e.g., "$35,000 - $60,000", "$60,001-$85,000", "$85,001-$110,000", $110,001-$200,000", $200,001-$300,000, $300,000+), verified with a green checkmark. - A minimum annual income of $35,000, verified through a third party provider, is required to ensure repayment ability. **Debt-to-Income Ratio** Displayed as a exact percentage (e.g., "35%"), with an explanatory note of what this represents (monthly debt obligations relative to income). A green checkmark confirms this was verified with third party providers. - A Debt-to-Income Ratio ratio under 35% which indicates manageable debt levels relative to income. - This is calculated as (*Monthly debt obligations / monthly gross income*) - Monthly debt obligations: includes all recurring monthly obligations such as mortgage payments, car loans, credit card payments, student loans, and any other debt. - Monthly gross income: the borrower's income before taxes and other deductions. **Bankruptcy** Displays "No Bankruptcies in Past 7 years" with a green checkmark verified by a third party provider. - No bankruptcies in the past 7 years. **Credit File** A line indicates: "3+ Credit Trades," followed by an example: (Credit Card, Mortgage, Auto Loan) with a green checkmark indicating verification through a third party provider. - At least three different types of credit trades on your credit file are required (credit card, line of credit, auto loan, mortgage, etc.), showing the borrower’s experience in managing debt. - 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