09/29/2026
What Counts as Income When Qualifying for a Mortgage?
Not all income is treated the same — but there may be more qualifying income than you think - here’s a breakdown ⬇️
*Employment Income 💼
Salary & hourly income are commonly used to qualify.
Lenders will look at your employment history, current position and whether your income is stable and verifiable.
📌 New job? Variable hours? No problem — there may still be options depending on your situation.
*Self-Employed 💻
Own a business? Lenders typically review your tax returns, NOAs and business income. Typically they would need a 2 year average of earnings. However, some programs also offer flexibility for more recently self-employed borrowers.
*Overtime, Bonus & Commission 💵
Yes, these can potentially count! But lenders generally want to see that variable income is consistent and sustainable. Depending on the lender and income type, a history of earnings may be required.
*Seasonal Income 🌦️
Seasonal work doesn’t automatically mean you can’t qualify. A consistent history of seasonal earnings can help demonstrate that the income is sustainable..
*Pension & Government Benefits 💵
Depending on the lender, these income sources could be considered:
✔️ Pension income
✔️ CPP / OAS
✔️ Disability benefits
✔️ Canada Child benefit (CCB)
*Rental Income 🏡
Have an investment property? Rental income may be usable for qualification, although lenders can use different methods to calculate how much of that income can be included.
It’s not just about HOW MUCH you make…
It’s about how your income can be verified.
Consistency + stability + documentation = key pieces of the mortgage puzzle. Let’s look at your whole picture!
𝔸𝕝𝕚𝕔𝕚𝕒 𝕊𝕙𝕒𝕣𝕜𝕒𝕨𝕚
ᴍᴏʀᴛɢᴀɢᴇ ᴀɢᴇɴᴛ
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ᴘʜᴏɴᴇ: 403.477.5949
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