Proof Of Funds - Query

[foruaks]

I have a question about Proof Of Funds required to be shown at the time of application for FSW. Currently we are a family of 3 and as stated in the CIC website, we are required to show $17000 as proof of funds. Now my question is that, we have approximately $20000 liquid asset with us, however I have a home mortgage of $24000 with bank. Does that mean that I am not eligible to apply, since I have a mortgage of $24000 which is more than my liquid asset or only liquid asset is considered in this?

What I understand is that though my pending house mortgage is $24000, then too the present value of the house is $70000. Will this thing be considered?

Currency denomination stated above is in CAD.

Your reply on this will be helpful.

 

[foruaks]

Guys ... any updates????

 

[foruaks]

Guys I am in desperate need of answer for this. Can someone help me soon?

 

[goodhope]

Guys I am in desperate need of answer for this. Can someone help me soon?

Friend,you can apply as you have enough liquidity requred for supporting your application(ie 20000CAd) and you need to maintain throughout the process.Anyway you net assets are higer than you mortegage then it will not be a problem.You can PM TO SENIOR LIKE QUARAX AND GET ANSWER

 

[asyousuf]

I have a question about Proof Of Funds required to be shown at the time of application for FSW. Currently we are a family of 3 and as stated in the CIC website, we are required to show $17000 as proof of funds. Now my question is that, we have approximately $20000 liquid asset with us, however I have a home mortgage of $24000 with bank. Does that mean that I am not eligible to apply, since I have a mortgage of $24000 which is more than my liquid asset or only liquid asset is considered in this?

What I understand is that though my pending house mortgage is $24000, then too the present value of the house is $70000. Will this thing be considered?

Currency denomination stated above is in CAD.

Your reply on this will be helpful.

Dear..i suggest to first read the procedure on below link
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp

With the initial application, u can off course show any asset which is in your name or your spouse name who is accompanying you for immigration(liquid or not) as proof of fund. In case of immovable property, u need to attach latest valuation certificate from professional valuer and duly notarized.

There is another stage when sometime VO inquires about funds availablility (may or may not ask) when u need to assure that all the assets are in the liquid form and u r ready to move with cash.

gud luk
asyousuf

 

[foruaks]

Thanks a lot guys. I want to make sure few things before I apply. This forum really helps.

You guys are very helpful. I have few more queries which I can raise as a different topic.