Mortgages for LTO teachers
Applying with an LTO contract starts with the assignment dates, pay and your teaching history. We help you organise those details and plan for any gap before the next assignment.
Your assignment and income history help a lender assess how much you can borrow.
How lenders assess your income
For contract income, lenders review past earnings alongside your current assignment and expected work. Have two years of earnings records ready if available.
Your current assignment shows the dates, pay and workload. Include a signed future assignment if you have one.
A lower recent year or a gap between assignments can change the income a lender accepts.
The lender also reviews your debts, credit, down payment and the property.
Your documents
- Two years of T4s and Notices of Assessment, if available
- Current signed LTO assignment and any confirmed future assignment
- Recent pay stubs
- Board employment letter or assignment history
How we help
- Review your actual earnings and current contract together.
- Confirm lender requirements before relying on a mortgage amount.
- Build a household budget that allows for unpaid gaps between assignments.
An annual grid salary is not necessarily what you earn on a shorter or part-time assignment. Use the dates and workload in your contract.
LTO mortgage questions
Can an occasional or supply teacher get a mortgage in Ontario?+
Supply teachers can apply using documented variable earnings. Prepare two years of records if available, along with recent pay and current work details. The lender reviews the income trend, continuity and the rest of the application.
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.
When does an occasional teacher become an LTO?+
The number of consecutive days is set by your board and union collective agreement. Check that agreement or ask board HR. Pay is generally based on grid placement and prorated for the assignment.
Talk to us
Emily & Jeff Mudrick
Mortgage agents, Mudrick Mortgages
Serving teachers across Ontario.
Talk through your mortgage options
Discuss your teaching income, budget and plans. We will explain the next steps for your situation.