An insured condo purchase approved by a big five bank on one applicant's income: a salaried role, a raise not yet on a paystub and a part time second job with guaranteed hours.
Client details are changed or removed and figures are rounded to protect privacy.
Written by A.I.M.I. Collective Mortgage Group, Brokerage editorial team
Published October 2026 · Last reviewed 5 October 2026
Official sources: Canada Mortgage and Housing Corporation (CMHC), Office of the Superintendent of Financial Institutions (OSFI), BC Home Owner Grant
A couple with excellent credit was buying a new build condo with about 13 percent down. Only one of them had income that could be used, so one person's earnings had to carry an insured mortgage at the stress test rate. On base salary alone, the ratios did not work.
Two years with the employer, close to five in the industry. Base in the mid $70,000s.
Confirmed by the employer. Disclosed up front and conditioned on the next paystub.
More than four years with the same employer, 24 guaranteed hours a week, about $33,000 a year.
Tenure of more than four years and a written guaranteed minimum of hours turned side income into qualifying income.
The new salary was declared and the lender conditioned proof on the next paystub. No surprises at conditions.
Qualifying on one applicant kept the file clean and the documentation short.
Qualified at contract rate plus two points. Property tax shown gross and net of the BC Home Owner Grant.
Property, product, credit, each income with tenure, ratios, down payment and dates on one page.
Get tenure and guaranteed hours in writing before you submit.
A raise not on a paystub is a condition to request, not a number to slip in.
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