Healthcare pay can be a puzzle — base, shifts, overtime, casual lines. Here’s how to make all of it count toward your mortgage.
Steady, in-demand work makes you a strong applicant. The only trick is proving all of your income — not just your base pay. That’s where a good broker earns their keep.
1. Get pre-approved. We confirm your true budget and lock a rate while you look.
2. Document your income. Base pay is easy; we make your shift premiums and overtime count too (see below).
3. Find your home. Shop knowing exactly what you qualify for.
4. Final approval and close. We carry the file through to your keys.
Base salary (permanent full-time). The easiest to use — an employment letter and a recent pay stub usually do it.
Overtime, shift premiums, casual & agency. Lenders usually average your last 2 years of this income, so keep your T4s and pay stubs handy.
New grad. A signed employment letter with your start date and salary is often all a lender needs.
Contract or travel nursing. Keep your contracts: showing a steady 2-year pattern helps you qualify for more.
You may also tap the FHSA (up to $8,000/yr, tax-free), the RRSP Home Buyers’ Plan (up to $60,000), and the First-Time Buyers’ Tax Credit ($1,500). Ask and I’ll show you how they stack.
Yes. Lenders typically average your last two years of T4 income from casual, agency, or overtime work, so keep your slips and pay stubs organized.
Not at all. A signed employment letter showing your start date and salary is often enough on its own for new graduates.
Not if you can show a steady pattern. Keep every contract: a consistent two-year history of contract work is treated similarly to steady employment.
Yes. Most applications are assessed on household income, so your combined documented income is what matters for qualifying.
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