TL;DR: It almost always won’t be a problem to qualify your income on a mortgage application, as long as you have documentation proving that you have a guaranteed position to return to.

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While taking parental/maternity leave, if you walk into your local bank to get qualified, there is a chance they will only allow you to use the income you are currently receiving to qualify for a mortgage (55% of your income up to $562/week). This means you will qualify for significantly less, as your income is a fraction of what it is when you’re working.

The advantage of working with Click Mortgage is that you can use 100% of your return to work income.

To do this, you need an employment letter from your employer that states the following:

  • Your employer’s name
  • Your position
  • Your initial start date
  • Your return to work date
  • Your salary

From there, you may also need to provide a history of income, but that is typical to mortgage financing.

What you decide to do; whether you return to work after your parental/maternity leave or not, is entirely up to you. However, for a lender to feel confident in your ability to cover your mortgage payments while qualifying, you will need to have a position waiting for you once your leave is over, and the letter to prove it.

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