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Non-Traditional Income

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Mortgage Solutions for Non-Traditional Income

Not everyone receives a regular salary or predictable paycheque.


If your income comes from commissions, bonuses, contract work, seasonal employment, multiple jobs, or other non-traditional sources, qualifying for a mortgage may involve additional considerations.


The good news is that many lenders understand today's workforce looks different than it did in the past.


I'll help you understand how your income may be assessed, explain the documentation required, and guide you toward mortgage solutions that fit your financial situation.

Your income may look different and that's okay

Many Canadians earn income in ways that don't fit the traditional full-time salaried model.

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You might be:

  • Paid on commission

  • Receiving bonuses as part of your compensation

  • Working as an independent contractor

  • Employed seasonally

  • Working multiple part-time jobs

  • Earning freelance income

  • Receiving a combination of different income sources

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A non-traditional income doesn't automatically prevent you from qualifying for a mortgage. The key is understanding how different lenders assess different types of income.

How lenders may assess your income?

Every lender has its own qualification guidelines.

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Depending on your circumstances, lenders may consider:

  • The consistency of your income

  • Your employment history

  • The length of time you've earned your current income

  • Supporting documentation

  • Your overall financial picture

  • Your credit history

  • Your down payment

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Some income sources require additional documentation, while others may require a longer history to demonstrate stability.

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I'll help you understand what's required before you begin your application.

Preparing your mortgage application

Being prepared can help make the mortgage process smoother.

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Depending on your situation, you may need documents such as:

  • Recent pay statements

  • T4s or T4As

  • Notices of Assessment

  • Employment letters

  • Commission summaries

  • Contracts or employment agreements

  • Bank statements

  • Additional income documentation requested by the lender

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The exact requirements depend on your income structure and the lender's guidelines.

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