Employment & income
Mortgage renewal with commission or bonus income
Quick answer
Most A-lenders average commission and bonus income over your last 2 years of T1s. If income has grown, use the higher year; if it dropped, staying with your existing lender at renewal avoids the average calculation entirely — no re-qualification required.
What makes this different
- Commission averaging punishes recent growth and rewards recent decline.
- Some lenders exclude commission entirely if you've had the job less than 2 years.
- T4 vs. T4A commission is treated differently at some lenders.
How to approach your renewal
Get retention pricing first — no income review at all.
If shopping, target lenders that use higher of 2-year average vs. current year: this rewards growing income.
Want Jay Klair to run your numbers for this situation?
Free, no-obligation review from a FSRA-licensed mortgage agent.
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Jay Klair, Mortgage Agent Level 2 (M09000869) — Real Mortgage Associates, FSRA #10464, part of the DLGC Group of Companies · 5675 Whittle Rd, Suite 100, Mississauga, ON L4Z 3P8