Nurses Moving to Ontario: Qualifying to Buy a House

TL;DR

1. We can’t use projected income. You have to start a nursing position before you can qualify for a mortgage.
2. We need an accepted job offer or letter of employment, and at least one pay stub.
3. To use overtime or premiums from your previous position, you need 2 years of T4 slips showing similar work history.

Welcome to Ontario: Why Your Nursing Career is a Mortgage Superpower

Moving from anywhere in Canada to Ontario is a big move! When it comes to getting a mortgage, moving brings up one major question: How do I qualify when I have a new job?

As a Canadian nurse (RN, RPN, or NP), you have a huge advantage. Lenders see your profession as highly stable and in constant demand. This job security makes you a low-risk, highly desirable borrower in their eyes.

However, moving provinces means changes in licensing, living expenses, and possibly a change in salary as well. This is where a specialized mortgage expert can truly help, ensuring your move to Ontario is in good hands. Our team specializes in helping nurses like you qualify for financing to buy a house in Ontario.

Getting Approved: It All Starts with Your Ontario Job Offer

When you’re moving to Ontario and qualifying for a mortgage, your brand-new job offer is your most important document. Lenders need proof that your income is guaranteed and ready to start.

For your mortgage application to be seriously considered, you need to have an accepted job offer and at least one paystub from your new Ontario employer.

Here is what your lender needs to see on that job letter:

• Job Title and Status: RN, RPN, NP, and confirming it’s a full-time, permanent position.
• Start Date: This shows exactly when your guaranteed income began.
• Base Salary: The fixed, reliable amount you get paid, regardless of shifts.
• Company Letterhead: Proof that the offer is legitimate.

Once you have your first paystub, it confirms you have successfully started the job and the income stated in the offer is accurate.

Will a Probation Period Hurt Your Mortgage Qualification?

One of the biggest worries for a nurse starting a new job in a new province is the standard 3-to-6-month probation period. During probation, an employer can let you go with minimal notice, which lenders see as a risk.

Fortunately, your experience helps get around any kind of probation period.

• Strong Industry History: If you can show 2 years of T4’s in similar employment, a lender is much more likely to make an exception.
• Lender Logic: They recognize that moving from one hospital to another is a lateral move within a high-demand field, not a risky career change. The job is secure; it’s just the employer that’s new.

A good mortgage strategist can present a strong case to the underwriter, sometimes even timing your home’s closing date to land just after your probation period ends.

How to Use Overtime & Shift Premiums

Honestly, a nurse’s income is much more than their base salary. Overtime, weekend premiums, shift differentials, and bonuses make up a massive part of your annual earnings. To buy the home you truly want, you need to make sure the lender counts as much of that income as possible.

The Critical 2-Year T4 Rule

For variable income, like overtime, lenders require proof that those extra shifts are consistent, not just a one-time spike.

Two years of T4’s from your position at another Canadian Hospital can allow us to use your 2 year average income rather than just the income in your job offer.

Why Projected Income Doesn’t Count

You might know that once you settle into your new role, you plan to pick up more shifts, but lenders won’t use projected income.

Think of it from the lender’s side: What happens if you buy a new home based on what you could possibly earn, but struggle to find a job, or the overtime hours you expected are not available? It’s a risk.

Lenders must qualify you based on what is proven and documented (i.e., your base salary and the 2-year average of variable income shown on your T4s).

Special Mortgage Programs for Nurses

A few lenders have special programs for nurses in Ontario, such as cash back incentives and slight interest rate discounts.

Now, these incentives aren’t always the most attractive. Sometimes there are promotions and limited offers that are generally better than these special programs. This is why a dedicated mortgage agent is valuable. They’ll know how to save you the most money when finding a mortgage that fits your situation.

Mortgage Qualification Checklist for Nurses Moving to Ontario

When you are ready to apply for a pre-approval, having these documents ready will make the process fast and easy.

Document Required	Why the Lender Needs It
New Letter of Employment (LoE)	Confirms your new role, base salary, and start date. Must be dated within the last 30 days.
Most Recent Pay Stub	Proves you are actively being paid the amount stated in the LoE.
T4 Slips (2 Years)	Essential for calculating your overtime/premium average and verifying overall income history.
Proof of Down Payment	90 days of bank statements showing where your down payment funds originated.
Credit Report	Your lender will pull this to check your credit history and score.
Mortgage Pre-Approval Application	The form itself, summarizing your debts, assets, and desired purchase price.

Quick Note: As a nurse moving to an eligible area, you may also qualify for the Community Commitment Program for Nurses (CCPN), which provides up to $25,000 in grant funding in exchange for a two-year service commitment. This money can be a massive help for your down payment, though it does not directly count toward your qualifying income.

Ready to Start? Your First Steps in Ontario

If you would like more details about the mortgage qualification process for a nurse in Ontario, here’s a whole guide for you.

This reddit post has a collection of first hand experiences and other resources for finding work as a nurse in Ontario.

Step 1: Find a new nursing job in Ontario.

Step 2: Schedule a call with me and my team to get your pre-approval started.

Even if you haven’t started work yet, we can start with T4’s from your previous job.

Step 3: Once you get your first pay cheque, send me your pay stub.