I have a small query related to the proof of funds. Currently in my bank account, I have more than the required proof of funds of CAD 12475. I am currently working and my salary is deposited on a monthly basis to my account.
Now my question is, I am buying a new house and for the down payment I need to use a big portion of my savings. So my bank account statement will show a reduction way below CAD 12475. However, my monthly salary can cover them in the progressive two months. Will that be an issue if I receive the ITA shortly?
I have a small query related to the proof of funds. Currently in my bank account, I have more than the required proof of funds of CAD 12475. I am currently working and my salary is deposited on a monthly basis to my account.
Now my question is, I am buying a new house and for the down payment I need to use a big portion of my savings. So my bank account statement will show a reduction way below CAD 12475. However, my monthly salary can cover them in the progressive two months. Will that be an issue if I receive the ITA shortly?
Unfortunately, I don't have the option of keeping the POF amount since I have to pay the down payment this month. I was thinking of explaining in a letter why I used this amount and attach the supporting documentation for that. Because my salary will cover the amount for the down payment in the next 2 months and I will be back to exceeding the POF amount. So I will have the 6 months statements proving that I exceeded the POF amount except only for one month.
Unfortunately, I don't have the option of keeping the POF amount since I have to pay the down payment this month. I was thinking of explaining in a letter why I used this amount and attach the supporting documentation for that. Because my salary will cover the amount for the down payment in the next 2 months and I will be back to exceeding the POF amount. So I will have the 6 months statements proving that I exceeded the POF amount except only for one month.
