What You Need to Know About Mortgages and Parental Leave

Tanya Toye • August 12, 2026

If the title of this article caught your attention, chances are your family is growing.


Congratulations.


If you’re thinking now is the right time to move into a home that better fits your growing family—but you’re unsure how parental leave affects your ability to qualify for a mortgage—you’re in the right place.


Here’s the good news.


Qualifying for a mortgage while on parental leave is possible when it’s done correctly.


When you work with an independent mortgage professional, lenders can often qualify you based on your return-to-work income, as long as you can provide documentation confirming you have guaranteed employment waiting for you.


A word of caution
If you walk into a bank branch and disclose that you’re currently on parental leave, there’s a chance the bank will only allow you to qualify using your parental leave income.


That can significantly reduce your borrowing power.


Parental leave income is typically limited to 55% of your previous earnings, up to a weekly maximum. Qualifying on that amount alone can restrict your options and impact the type of home you can purchase.


Why lender choice matters
One of the biggest advantages of working with an independent mortgage professional is choice.

You’re not limited to one lender’s rules or products. Some lenders will allow you to qualify using 100% of your confirmed return-to-work income, which can make a meaningful difference in your approval amount and overall options.


What you’ll need to qualify
Most lenders will require an employment letter that includes:

  • Employer name (preferably on company letterhead)
  • Your job title
  • Original start date (to confirm probation has been completed)
  • Confirmed return-to-work date
  • Guaranteed salary upon return


Lenders want reassurance that your income will resume once parental leave ends. You may also be asked to provide income history from the past couple of years, which is standard for most mortgage applications.


One important note
Whether or not you actually return to work after parental leave is entirely your decision. From a mortgage perspective, qualification is based on having a confirmed position available to you at the time of approval.


If you have questions about qualifying for a mortgage while on parental leave—or anything mortgage-related—please connect anytime. I’d be happy to walk you through your options and help you plan with confidence.


Tanya Toye

Mortgage Broker

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Need Funds Between Buying and Selling? Here’s How Deposit Loans & Bridge Financing Help

By Tanya Toye • August 5, 2026
You’ve outgrown your current home. It no longer fits your life, so moving makes sense. And you’re not interested in juggling two properties. Selling first and buying something new feels like the right move. Ideally, you want possession of the new home before leaving the old one. That overlap makes moving easier, reduces stress, and gives you time to paint, renovate, or settle in before the boxes arrive. But there’s a common challenge. What if the down payment for your next home is tied up in the equity of the one you’re selling? That’s where bridge financing comes in. How bridge financing works Bridge financing temporarily unlocks equity from your current home once it has a firm sale . It bridges the gap between selling your existing property and purchasing your next one, allowing you to use that equity toward your down payment. What about competitive markets? In a hot market, a strong offer often means a larger deposit . If you don’t have that cash sitting in your account, but you do have equity, a deposit loan can help you compete with confidence. The non-negotiable requirement To qualify for bridge financing or a deposit loan, your current home must have a firm, unconditional sale . No firm sale = no bridge or deposit loan. Lenders need certainty to calculate available equity and manage risk. Bottom line A firm sale is the key that unlocks bridge financing and deposit loans. If you’re planning a move and want to understand how these options could work for you, let’s talk. I’m always happy to walk you through your options and help you plan your next step with confidence.

When Love & Homeownership Collide

By Tanya Toye • July 30, 2026
Buying a home is one of life’s biggest accomplishments. Finding someone you want to build a future with is another. If you’ve achieved both, congratulations! Owning real estate before entering a serious relationship can provide a strong financial foundation for your future together. However, while no one wants to think about the possibility of a relationship ending, it’s important to understand how your home could be affected if it does. In British Columbia, family property laws can become complex when couples separate. Depending on your circumstances, a home that one partner owned before the relationship may not remain entirely separate property. In some cases, any increase in the property’s value during the relationship or other financial contributions made by a partner could become part of a property division discussion. Factors such as whether you’re married or in a common-law relationship, how long you’ve lived together, whether you’ve combined finances and whether your partner has contributed to mortgage payments, renovations or maintenance can all influence the outcome. This isn’t meant to discourage anyone from building a life together. Rather, it’s a reminder that planning ahead is just as important in your personal life as it is in your financial life. Protecting yourself with a cohabitation or prenuptial agreement One option some couples consider is a cohabitation or prenuptial agreement. These legal agreements can clearly outline how assets, including real estate, would be treated if the relationship ended. Having these conversations early, while they may feel uncomfortable, can provide clarity and help avoid costly disputes down the road. From a mortgage perspective, it’s also worth thinking carefully before making changes to your home’s ownership or mortgage. Adding a partner to the title, refinancing together or using your home’s equity for joint expenses are significant financial decisions that can have long-term implications beyond your monthly mortgage payment. Before making any major changes, speak with both a family lawyer and your mortgage broker. Your lawyer can explain your legal rights and responsibilities under British Columbia law, while your mortgage broker can help you understand how changes to ownership, refinancing or borrowing against your home could affect your financial goals. Protecting the home you’ve worked so hard to purchase doesn’t mean you expect the worst. It simply means you’re making informed decisions about one of your largest investments. If you’re considering adding a partner to your mortgage, refinancing together or simply want to understand your options, I’d be happy to help you navigate the mortgage side of the conversation and connect you with the right professionals as needed. A little planning today can help provide greater peace of mind for whatever the future holds. 604-788-8693 | tanya@tanyatoye.ca