Durham Regions Premier Business Networking Group
Home >  Blog >  How to Qualify for a Mortgage using Commission Income

How to Qualify for a Mortgage using Commission Income

Posted on 9 April 2018
How to Qualify for a Mortgage using Commission Income

Do you earn commission income? Having a hard time qualifying for the mortgage you want?


Real estate agents and insurance brokers are two common businesses that tend to be 100% commission based. Lenders consider commission income with a bit more risk than other types of self-employed business income.

Three things to consider when seeking a mortgage using this type of income:

1.Some lenders do not accept commission income for qualifying purposes. It is important to realize this niche and choose the right lender for your specific income type. A lot of frustration will be avoided by selecting the right lender.

2.Documentation is key. Save those T4As and your employers' commission reports for the last 2 years. Be able to distinguish between gross and net commission amounts.

3.Some of these niche lenders will consider up to 100% of your commission income and there are solutions for borrowers with poor credit.

Sean Stewart at SGH Mortgages Inc. knows this niche well and will work hard to get you the money you deserve. To find out how you can qualify for a mortgage using commission income, start a conversation with Sean today, 905-427-9596.
Tags: Latest News

What our clients say

DNA is a very dynamic group, with many amazing business owners and professionals. There are a lot of connections happening to help grow my business...

Stephan Orlob

News and press releases

STATE YOUR INCOME - The Self-Employed Advantage

Posted by Sean Stewart on 1 October 2020
avatar
Stated income programs are still alive and well. There have been some changes over the years with the changes in fede...

Guest Speaker Trevor Parry Oct 16th

Posted on 1 October 2019
avatar
The DNA will be hosting a Tax and Estate Planning Guest Speaker.  Trevor is the Senior Tax and Estate Planni...

3 signs you need to work with a mortgage broker

Posted on 24 April 2019
avatar
  ...
< Previous | 1 | 2 | 3 | 4 | 5 | Next >