Occasional and supply teachers can apply for mortgages using documented variable income. A two-year earnings history is commonly requested. The lender may use an average, a lower recent year or another accepted method after assessing current work and continuity.
Daily supply work can support a mortgage application. The lender needs enough evidence of earnings and continued work to decide what income it can accept.
How lenders assess supply income
For variable teaching income, lenders commonly request two years of records. The average may be a starting point, but a lower recent year or uncertainty about future work can affect the accepted amount.
When a lender uses annual earnings, unpaid periods are already included. It also checks current earnings and whether the income is likely to continue.
A simple worked example
If you earned $48,200 and $55,600, the two-year average is $51,900. This is an arithmetic example, not an approved income amount. The lender decides whether that average is appropriate after reviewing the earnings trend and current work.
Illustrative only. Lender rules vary, some accept shorter history or a signed future contract, and a rising trend can change the approach.
Documents that show your work history
- Two full years of T4s and Notices of Assessment from teaching
- Recent assignments, including any move from daily supply work to an LTO
- Steady work through the same board
- A signed assignment for the upcoming year, if you have one
Before you apply
Prepare your earnings history and current work details before applying. If one lender cannot use your income, ask whether another suitable option exists and what conditions apply.
Sources and dates
Sources below support the relevant figures and rules. Source dates and historical salary years are shown where available. A planned review date does not guarantee that a figure stays current; check the source and your own eligibility before acting.
First published . Updated . Source dates are listed above.
Common questions
Can a supply teacher get a mortgage with under two years of history?+
A short history needs individual review. Gather the earnings records you have and any signed assignments, then ask which evidence a lender accepts before relying on a borrowing amount.
Does EI between contracts hurt my application?+
An EI claim does not by itself rule out a mortgage. Disclose the benefit and dates separately from teaching pay so the lender can assess the income under its policy.
Do unpaid summers reduce my qualifying income?+
An average of actual annual earnings already includes unpaid periods. A lender may still adjust the accepted income after reviewing recent earnings and continuity.
Talk to us
Emily & Jeff Mudrick
Mortgage agents, Mudrick Mortgages
Serving teachers across Ontario.
Discuss your mortgage plans
Bring your questions about buying, renewing or refinancing. We will help you understand the next steps.