CHILD CARE BENEFITS

• Provide letters from both governments (where applicable) outlining the names, dates of birth for each child and the payments allocated.
• Three months bank statements
  • To confirm current payments.

• Most lenders only accept the federal child benefit; just a handful accept the provincial child care benefit
• Most lenders will accept child care benefits if paid during the term of the mortgage
  • in other words, the child's maximum age would be 13 years
• In addition, there is a maximum that is used and varies from lender to lender
  • For example, 15% of the total employment revenue is the maximum amount of the eligible child care benefit
  • 100,000$ family income; 15% = 15,000$
    • if the child benefits are less than that, then the whole amount received will be used
    • if not, the maximum child care benefit used will be 15,000$ and if the child is less than 13 years old

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