u/thecrowshaveeyess

Looking for some realistic feedback. I came across some financial hardship a few years ago and ended up doing a consumer proposal. I closed it off December 2024 and it’s supposed to “fall off” my credit report August of this year. Following the consumer proposal, I prioritized rebuilding my credit. So I have two open and managed credit cards. My credit score is in the 700s. I make $175K/year (with an incremental bonus each year, but it can vary).

That being said, I’ve slowly started to look into buying a house, and found one that we really liked but I’m looking for some realistic feedback from mortgage brokers if I should even bother trying to apply now or should I just wait a few few months where hopefully the CP is officially removed.

Some additional information, I would be applying with my husband, his credit score is fine, but he does construction and the markets been a bit fickle so I’m really the only one with a study income right now.

So please let me know as a mortgage broker if you think us applying is even worthwhile right now or if we just should just hold off for a little bit. Also if you have any additional advice on things that I can do to further ensure that we would be approved, please share.

Thank you!

**EDIT** Thank to everyone with constructive feedback. I’ll take it as a lesson learned and have my employer validate the current amount of taxes being deducted and how to mitigate this in the future. Given the amount I am currently deducted, I had no reason to believe it would be insufficient. Either way it’s something I will look into. To all the people who were negative, it takes nothing to be kind. **

Looking for some advice as I’m about to be in a not so ideal situation.

Background: 2025 I spent most of the year on maternity leave, where I received both a top up from work and parental leave pay.

I recently went to file my taxes (via turbo tax) and was notified that I would owe about $20K, which I have no idea how i will pay, but that’s a whole other issue.

I’m back at work now, and am hoping for some direction on how I can avoid this happening again in the future. Should I request that more taxes is taken off each pay?

Is there any chance that turbo tax messed anything up? I feel like I went through all of the details multiple times and didn’t see anything out of whack.

I’m really stressed about this whole situation and I will of course try to call to do a payment plan, but either way I need to figure out how to avoid this in the future.

Any advice is appreciated!