For a wage earner living with family or friends, how long is the minimum PSS duration?

The correct answer is six months, which is the minimum duration for the Public Service Sector (PSS) for a wage earner living with family or friends. This six-month period is established to ensure that individuals have a sufficient timeframe to demonstrate stability and reliability in their living situation. In the context of pre-purchase programs, this duration reflects a standard practice that indicates financial stability, which can positively influence an individual’s ability to secure a mortgage or financial assistance.

This duration is crucial as it serves as a benchmark for assessing an applicant's ability to maintain a consistent income and housing arrangement, which are key factors in mortgage lending. A longer duration helps demonstrate that the individual can manage their financial responsibilities over time, which offers lenders reassurance about their creditworthiness and financial behavior.

Shorter durations, such as one or three months, may not provide adequate evidence of long-term stability, while a duration of 12 months tends to be beyond the typical requirements for PSS considerations in this context. The six-month requirement strikes a balance, providing enough time to show consistency without being overly burdensome.