A teacher salary increase: updating your mortgage budget
A salary increase can change a borrowing estimate, but the lender must confirm when it can use the new income. Ask your board for the amount and effective date, then update both your mortgage estimate and your take-home budget.
Confirm the amount and effective date
Use your current board salary letter or payroll confirmation. A historical published grid does not establish your current category, recognised experience or paid workload.
Get a scheduled raise confirmed
Ask the board for the new salary and effective date in writing. Share that confirmation with your mortgage professional before using the increase in an application. This also applies to a category change after additional qualifications.
Compare two budgets
- Your payment using current confirmed earnings
- A revised estimate using the accepted higher salary
- Take-home pay after pension and tax deductions
- Any additional course costs or debt used to obtain the qualification
Check category changes before paying for courses
QECO assesses the whole qualification record. Ask for individual upgrading advice, then confirm the board process and effective date. A degree or course does not guarantee a particular category by itself.
Sources and dates
These sources support the general rules discussed here. Lender requirements and individual eligibility still need to be confirmed.
First published . Updated . Source dates are listed above.
Common questions
Can I use a future raise now?+
It depends on the documentation, effective date and lender policy. Confirm acceptance before relying on it in an offer.
Are the published grids on this site current?+
They are labelled 2025-26 historical figures. Check your board for the salary schedule and placement that apply now.
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Emily & Jeff Mudrick
Mortgage agents, Mudrick Mortgages
Serving teachers across Ontario.
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