Mortgages for new and probationary teachers
Buying with a new teaching contract starts with a review of your salary, probation, savings and purchase timeline. We help you work out your budget and the documents to prepare.
Probation does not automatically rule out a mortgage, but lender requirements vary.
How lenders assess your income
Your board letter should confirm your position, salary, start date and probationary status.
Some lenders can consider an application during probation; others require it to be completed.
Prior teaching work may help demonstrate continuity, but moving boards does not automatically waive probation.
A future salary increase needs written confirmation and lender acceptance before you rely on it.
Your documents
- Board employment letter and signed contract
- Recent pay stubs, if employment has started
- Prior income records where requested
- Written confirmation of probation completion or waiver, if applicable
How we help
- Confirm the income and employment conditions a lender will accept.
- Discuss your purchase timeline before choosing a closing date.
- Compare your borrowing estimate with the payment you can manage comfortably.
Do not assume a signed contract or one pay stub guarantees approval. Get the lender conditions clear before making a firm offer.
New teacher mortgage questions
Does a permanent teacher need two years of history to qualify?+
Not always. Lenders may assess a permanent salary using an employment letter and pay stubs. Your start date, probation, other income and lender policy determine what history is required.
Is a probationary teaching contract a problem for a mortgage?+
It can limit your options, but it does not automatically rule out a mortgage. Confirm whether a lender will accept your probationary status and what must be completed before closing.
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.
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.