I couldn't really seem to find any information about whether RSUs (or bonus) are included as income for mortgage qualification. Given that in tech, RSUs are a significant portion of comp, it'd make a pretty significant difference. Curious if folks can shed some light. Thanks in advanced blind fam Tagging tech co's with Canadian presence: #google #canada #amazon #snap #uber
trailing 2 year average income on your tax return is what they use, or your current base, whichever is higher. 4-5x that is usually how much they can borrow you.
Thanks for this! This helps a lot! 🙏
Hi, can you recommend a lender in Canada (Toronto) that will consider vested RSUs as qualifying income?
+1 to the question above - in people's experience: which banks in Canada have accepted RSUs for mortgage approval?
Only vested RSUs.
Thanks for the note. Does that mean that in calculating last year's income it would be: base income (from last year) + RSUs that vested last year?
Thats right. Plus bonus. They all count against your assets. Anything that you can liquidate or have full ownership of.