If you are in a low-income environment, you may be looking for ways to increase your revenue in order to qualify for a first-time buyer mortgage. Whether you need help getting approved or you’re hoping to qualify for a larger loan, here are some ways to increase the amount of qualifying income on your mortgage application.

Acceptable Income Sources For a Mortgage Lender

Part-Time Job

If you want to use your part-time job as qualifying income, a mortgage lender will need to see proof of the income on your taxes so that they can be assured the income is stable and consistent. The same goes for tips if you are a server or a bartender.


You can use your monthly disability payments from public assistance programs like AISH to help you qualify for your mortgage. This income is only considered if it is long term; a mortgage investment corporation needs to see that you have the income to pay off your mortgage now and in the future.

Spousal/Child Support

Mortgage lenders will accept spousal and child support payments as qualifying income on the stipulation that the payments will continue for at least two to three years in the future, and that the past payments have been consistent and on time.


While it’s less common to apply for a mortgage when you’re retired, retirement and pension are still acceptable income sources.

Rental Income

If you’ve previously applied for an investment property mortgage and you rent out the property, you can use the monthly rent payments as a source of income to include on your mortgage application. Again, make sure the income is documented correctly on your tax returns.

Choose a Different Mortgage Lender

If these options do not qualify you for the mortgage you’re looking for, consider applying with a different company such as a private mortgage lender; their approval rates are often much higher than the banks!

What Matters Most for a Mortgage Application

Keep in mind that your income may not necessarily be the most important part of your loan application. Most mortgage lenders care about the amount of your downpayment and your overall credit score in addition to your monthly income.


Keep these tips in mind the next time you apply for a first-time buyer mortgage or a home renovation loan.

Whether you’re looking to borrow or invest, Alta West Capital can help. We offer a number of lending solutions for first time buyers, individuals and families that are new to Canada, self-employed business owners, real estate investors and more. Alta West loans are fast and flexible to fit your needs. Visit our website to apply online or contact us directly. Call (403) 254-9075 or email info@awcapital.ca.