Income Requirements Download Guide

Income Requirements – Employee

Salaried Employee:
  • Signed letter of employment on company letterhead stating: Start Date of Employment, Current Position, Salary, No Probation (some exceptions may apply, please contact us for details),
  • Please ensure that employers contact name and phone number are listed on letter, as the Lender will call your employer to confirm the details.
  • Current/Recent Paystub (In the past 30 days)
  • Most recent T4
Hourly Employee:
  • Signed letter of employment on company letterhead stating: Start Date of Employment, Current Position, Hourly wage, Permanent full time, No Probation (some exceptions may apply, dependent on the position, please contact us for further details)
  • Please ensure that employers contact name and phone number are listed on letter, as the Lender will call your employer to confirm the details
  • Current/Recent Paystub (In the past 30 days)
  • 2 Years T4’s
Overtime Hours/ Bonus or Commission:
  • Letter of Employment on company letterhead stating: Start Date of Employment, Current Position, Hourly wage, No Probation (some exceptions may apply, dependent on the position, please contact us for further details)
  • Recent Paystub (Within 30 Days)
  • Past 2 Year Notice of Assessments.
  • If there is a balance owing, the lender will require confirmation that balance owing is paid.
  • If you do not have a 2-year average, we will likely be able to use the base income however, certain overrides may apply dependent on the professional field, please contact us for details.
Part Time Employee
  • Letter of Employment on company letterhead stating: Start Date of Employment, Current Position, Hourly wage, Guaranteed Part Time Hours, No Probation (some exceptions may apply, dependent on the position, please contact us for further details)
  • Recent Paystub (Within 30 Days)
  • Past 2 Years Notice of Assessments
  • Past 2 Years T4’s
  • If there is a balance owing, the lender will require confirmation that balance owing is paid.
  • If you do not have a 2-year average, we will likely be able to use the base income however, certain overrides may apply dependent on the professional field, please contact us for details.
Causal/Temp/Flex
If your employment is any of the above, or your hours are not guaranteed as Full Time or Part Time
Employment
  • Letter of Employment on company letterhead stating: Start Date of Employment, Current Position, Hourly wage, No Probation
  • Recent Paystub (Within 30 Days)
  • Past 2 Years Notice of Assessments
  • Past 2 Years T4’s
  • If there is a balance owing, the lender will require confirmation that balance owing is paid.

Please Note, further documentation may be required upon review. If your income doesn’t meet any of the above
guidelines, please contact us directly and we will be happy to advise you on what we will require to proceed.