this post was submitted on 19 Sep 2024
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I've never made 6 figures before, but was asked to show my investment portfolio value when applying for a mortgage as it was part of my assets. Assets the bank could seize if I didn't pay my bill.
TIL I'm the 1%.
That's strange. I've had a few mortgages now and have never been asked to show my investment portfolio. Where are you and what bank asked for the info?
Canada. All of the banks I applied at asked for total assets, including TD and Scotiabank.
I still think anyone can do that, just on a smaller scale. Either way, sounds risky. Stocks sometimes go down as it turns out.
TIL I can use my stock as collateral in a mortgage