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How Your Income Impacts Mortgage Approval in Vancouver: Salary, Commission, Tips & Side Hustles Explained

  • erin0582
  • Oct 2
  • 3 min read



When it comes to buying a home in Vancouver, one of the first things lenders will look at is your income. Whether you’re salaried, commission-based, earning cash tips, or balancing a side hustle, the way your income is documented can determine how much you qualify to borrow.


In this blog, I’ll walk you through the most common income scenarios with insights from Chris Moore of Forefront Mortgages, so you can feel confident and prepared for your next home purchase.



Section 1: Why Income Matters for Mortgage Approval

Income is the foundation of mortgage qualification. Simply put:

  • More income = higher approval amount

  • Less income = lower approval amount


Lenders want to ensure you can manage monthly mortgage payments on top of your existing financial obligations.


Section 2: Salary & Hourly Income

For homebuyers with a full-time job, mortgage approval is typically straightforward. Lenders usually ask for:

  • A job letter confirming employment and salary

  • Recent pay stubs

If you’re salaried or guaranteed a set number of hours per week, your income is considered stable, which makes it easier to qualify.


Section 3: Commission-Based Income

If you work on commission, things get a bit more detailed. Lenders often require:

  • Two years of income history to average out fluctuations

  • Proof of earnings through tax returns

Some lenders may consider shorter histories (six months to a year) if you can demonstrate consistent earnings.


Section 4: Cash & Tip Income

Servers, bartenders, and others who rely on tips often wonder if their cash income counts. The good news is:

  • Depositing tips into a bank account creates a record lenders can use.

  • Some lenders may also rely on a job letter stating average tips.

The key is transparency — the more proof you can provide, the better.


Section 5: Using a Co-Signer

If your income isn’t enough to qualify on your own, adding a co-signer can bridge the gap. A co-signer’s income is added to your application, increasing your purchasing power. This is especially common for first-time homebuyers.


Section 6: Side Hustles & Influencer Income

In today’s economy, many people have multiple streams of income. Whether it’s a second job, freelance work, or revenue from platforms like YouTube or TikTok, lenders will consider it if:

  • The income has been consistent for at least 1–2 years

  • You can show proof via tax returns, contracts, or bank deposits

The longer the track record, the stronger your application.


Section 7: Maternity Leave & Income

Taking time off to raise a child doesn’t mean you can’t qualify. Lenders will look for:

  • A letter from your employer confirming your job and return-to-work date (within 18 months)

  • They’ll use your full pre-leave income for qualification purposes

This ensures parents don’t miss out on homeownership opportunities while on leave.


Conclusion

Your income — no matter how it’s structured — plays a major role in mortgage approval. Whether you’re salaried, earning commission, relying on tips, or building side hustles, there’s almost always a solution. Working with a mortgage broker ensures you present your income in the best light possible to secure the financing you need.



📞 Ready to start your home buying journey? Connect with me, and let’s find your dream home with the right financing in place.



Erin Price Emery

Contact me: erin@priceemery.com 

Call or text: 604-767-7725

Explore homes for sale in Vancouver and other areas at listitvancouver.com




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