[lordmandeep]

I was wondering, can a person with around 40-45K gross income get a residential mortgage for 300,000 to 400,000 and is the sole person working in his family. This is taking place in suburban Toronto Canada. He has some RRSP investments on the side as well and has 2 children under 10 and his wife does not work and looks after his grandparents. The reason I ask this is, because I own a business with him and are currently wanting to get out. He is not buying me out at a price I want. To me it appears he will have to use the store to get the residental mortgage.I am quite certain he cannot get a mortgage on the store without my approval. However can he still get a mortgage based on the fact he owns a business. Will he have to use the store as collateral or does even need the store as income. The amount of income he gets from the store is not official either, its all cash.House is 535K. Got 35K down payment and got 95K from moving out of a house and getting a share.