Healthcare pay is built from layers — base salary, shift differentials, overtime, on-call and casual pickups — and mortgage lenders count the layers differently. Guaranteed base salary from a permanent line is used in full. Overtime and premiums are normally averaged over two years from your T4s and confirmed by your employer as a continuing feature of your role. For Alberta nurses whose real income runs well above base, assembling that two-year proof is often the difference between the home they want and the home the first lender offered.

Photo via Wikimedia Commons.

Casual and newly permanent staff

Casual employees face the seasonal problem in scrubs: lenders want a track record, commonly two years, though a move from casual to a permanent line with guaranteed hours can be confirmed by an employment letter and used sooner with some lenders. Keep pay stubs that break out the premium categories; a single gross year-to-date figure forces an underwriter to guess conservatively.

Stacking healthcare income with a purchase plan

If a large share of your income is overtime, discuss sustainability honestly: lenders may average it, but your own budget should survive a year when you choose to work less of it. Bring your last two T4s, a current pay stub with the breakdown, and an employer letter confirming position, tenure, guaranteed hours and the ongoing availability of the premiums.

A note on rates

Posted rates are a starting point, not the final word. Rates are sometimes negotiable depending on the person and the situation, and we work with multiple lenders who offer different products and sometimes more competitive rates than any single posted table shows. Contact us and we will shop across lenders for your file — call Travis Bannert at (780) 720-8240. Any rate quoted for your file is based on an application and lender approval — it is confirmed only when a lender reviews your full application.

Start with a check, not a guess

Run your numbers through the Pre-Approval & Refinance Check — that page is the fastest way to sign up for a review of what you qualify for, what documents you need, and what your payment would look like on the homes you are actually watching in Edmonton and across Alberta.

Frequently asked questions

Does a new permanent nursing line count right away?
Often yes for the guaranteed base hours, with an employer letter and probationary terms satisfied. The overtime and premium layers still usually need the two-year record.

Thinking about this move in Edmonton or anywhere in Alberta? Call Travis Bannert at (780) 720-8240 — I will try to call you this week, or reply with a good time and we will set a phone appointment to walk through your file step by step.

By Travis Bannert, Mortgage Broker
Travis Bannert, Mortgage Broker | Next Door Mortgages, BFL Dominion Lending Centres | (780) 720-8240 | nextdoormortgages.com