Yes! We accept the following income types, in addition to traditional, fully-verifiable income. For complete details, please speak to your XMC BDM or consult your 2020 Broker Reference Guide.

Contributory Income (Family Members)

Contributory income is income derived from a family member who lives in the subject property. Contributory income may be
considered as additional income for debt servicing purposes. Contributory income is to be capped at 30% of total borrower income
excluding rental income and CCB to a maximum of $1200 per month (whichever is less).

Boarder Income (Non-family members)

Boarder income is income derived from a non-family member who lives in the subject property. Boarder income from as
many as two boarders may be considered as additional income for debt servicing purposes.
Boarder income is to be capped at a maximum of 2 boarders per application to a maximum of $500 each per month per
room or 30% of total borrower income (whichever is less).

Canada Child Benefit

100% of Canada Child Benefit (CCB) income can be used for qualification provided:

  • i. CCB income doesn’t exceed 30% of the total income excluding rental income;
  • ii. Maximum age of children at adjudication is 14 years.