Teacher Financing · Emily & Jeff Mudrick
Mortgages for Ontario Teachers
Help with buying a home, renewing your mortgage or refinancing... specifically for teachers.
Emily & Jeff MudrickMeet the teamStart with a budget estimate
What are you planning?
Buying your first home
Plan your down payment, estimate a budget and learn which documents to prepare.
Read the first-home guide
Renewing your mortgage
Compare payments and terms before you accept a renewal offer.
Read the renewal guide
Refinancing your home
Understand the costs of borrowing more or combining debts.
Read the refinancing guide
Your teaching situation
See how lenders assess your income and which documents to prepare.
What happens in a mortgage review?
Emily and Jeff look at your plans, income and existing mortgage, if you have one. You get practical next steps before deciding whether to apply.
Meet the team- Tell us what you needBuying, renewing or refinancing, and where you are in your teaching career.
- Understand your optionsDiscuss payments, mortgage terms, possible fees and the documents a lender may need.
- Choose your next stepAsk more questions or move ahead with an application. Approval depends on the lender and your full financial picture.
Tools and calculators
Mortgage calculators
Estimate a purchase budget or compare payments at different rates.
Teacher salary grids
Find published salary grids by school board, category and experience.
Teacher pension estimate
Explore retirement timing and an estimated pension.
Compare your mortgage
Request a review of your current payment and mortgage details.
Guides for Ontario teachers
Documents, employment letters and applying with more than one income.
Documents teachers need for a mortgage
A document checklist for permanent, LTO, supply and on-leave teachers.
Read guideWhat to include in a teacher mortgage employment letter
A clear checklist to share with your board HR team.
Read guideBuying a home with two teacher incomes
A worked borrowing example, combined debts and buyer-program eligibility.
Read guideTutoring, summer school and coaching: does the extra income count?
Documents for board-paid extra work and private tutoring income.
Read guideTeacher mortgage questions
What is the minimum down payment in Ontario?+
Five per cent on the first $500,000 of the purchase price and 10 per cent on the portion between $500,000 and $1.5 million. At $1.5 million and above the minimum is 20 per cent and default insurance is not available.
What documents does a teacher need for a mortgage?+
Start with a current employment letter and pay stubs, plus identification and down-payment records. For variable income, prepare earnings history and assignments. Ask for the lender checklist before requesting extra documents or payment-account details.
How do lenders calculate income for an LTO teacher?+
Lenders assess earnings history alongside the assignment dates, pay and evidence of continuing work. They may use an average or a lower recent year under their policy. Include a signed future assignment if you have one.
Can a teacher on maternity or parental leave get a mortgage?+
Yes, subject to approval. Some lenders can consider return-to-work salary with board confirmation of the position, salary and return date. They may also need evidence you can cover payments during the leave.
When should I start looking at my renewal?+
Start comparing a few months before your term ends. Ask each lender how long its offer lasts and whether you can receive a lower rate before the new term begins.
Does my spouse need to be a teacher for us to apply together?+
No. Joint applicants can have different jobs. Each income must meet lender requirements, and both applicants are responsible for the mortgage.
Talk to us
Emily & Jeff Mudrick
Mortgage agents, Mudrick Mortgages
Serving teachers across Ontario.
Buying, renewing or refinancing as a teacher?
Tell us where you are in your teaching career and what you need. Emily trained as an Ontario teacher, so she knows how teacher pay and contracts work.