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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.
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