Teacher Mortgage Program in Ontario: Preferred Rates and Rebates for Educators
The Teachers Mortgage Program connects Ontario teachers, supply and LTO teachers, professors and education workers with lenders that offer preferred rates and count contract and occasional income properly. Every client also gets up to $750 in rebates: up to $400 toward the appraisal and up to $350 toward closing costs. It works for purchases, renewals, refinances and pre-approvals.
Program at a Glance
- Who it’s for
- Teachers (public and Catholic boards), occasional, supply and LTO teachers, college and university instructors, education assistants, ECEs and school support staff
- What you get
- Preferred rates from participating lenders, cashback offers from select lenders, and recognition of contract and supply income
- Rebates
- Up to $400 appraisal rebate and up to $350 toward closing costs (up to $750 total)
- Mortgage types
- Purchases, pre-approvals, renewals and refinances
- Where
- Anywhere in Ontario, with local expertise in Hamilton, Burlington, Brantford, St. Catharines, Caledonia and the Kawarthas
- Extra
- Prepayment tracking: I watch your mortgage and tell you if breaking it early would save you money
Why Teachers Need a Different Kind of Mortgage
Teaching income is stable, but it often doesn’t look stable on paper. Supply teachers are paid by the day. LTO teachers work contract to contract. Many education workers are paid over 10 months, and new teachers can spend years on the occasional list before getting a permanent position.
A bank branch usually looks for a permanent job letter and a full-time pay stub. Lenders in the Teachers Mortgage Program know how school boards hire and pay, so they look at your real history instead.
- Preferred rates from lenders who value educator income
- Recognition of contract, supply and occasional teaching income
- Cashback offers from select lenders
- Available for purchases, renewals, refinances and pre-approvals
How Lenders Look at Teacher Income
Every lender sets its own rules, but this is what they typically look for:
| Your position | What lenders usually ask for | Good to know |
|---|---|---|
| Permanent teacher | Job letter and a recent pay stub | Qualifies like any salaried job, including during the summer |
| LTO teacher | Your current contract plus your teaching history, often two years of T4s | A steady run of LTOs can be treated much like permanent income |
| Occasional or supply teacher | Two years of T4s or Notices of Assessment, and proof you’re on the board’s list | Lenders usually average your last two years of income |
| Education assistant, ECE or support staff | Job letter and pay stub; T4s if your hours vary | 10-month pay is fine; lenders use your annual income |
| College or university instructor | Contract letters and two years of T4s for sessional work | Tenure-track and full-time faculty qualify on salary |
If you’re newer to teaching or your income has jumped recently, tell me where you are. Some lenders will use your current contract rate instead of a two-year average.
Who Qualifies?
The Teachers Mortgage Program is available across Ontario to:
- Elementary and secondary school teachers (public and Catholic boards)
- Occasional, supply and LTO teachers with a consistent work history
- College and university professors and instructors
- Education assistants, early childhood educators and school support staff
Even if you’re on a temporary contract or working supply, there are lenders who will recognize your income and offer you competitive terms. I’ll find the right fit for your situation.
A Little Extra, On Us
As part of the Teachers Mortgage Program, every client also receives:
- Up to a $400 appraisal rebate
- Up to a $350 rebate toward closing costs, to help cover legal fees
- Prepayment tracking. I monitor your mortgage, and if breaking it early to move to a better one would save you money, you’ll hear from me first.
Teacher Mortgage Questions
Do teachers get special mortgage rates in Ontario?
Yes. Through the Teachers Mortgage Program, Ontario educators can access preferred rates and cashback offers from lenders that value education sector income, plus up to $750 in rebates.
Can supply teachers get a mortgage?
Yes. Most lenders want about two years of supply or occasional income and will average it. Bring your T4s or Notices of Assessment for the last two years and proof you’re on your board’s occasional list.
Can I get a mortgage on an LTO contract?
Yes. Lenders look at your current LTO contract along with your teaching history. A steady run of LTOs, even with short gaps between them, can be treated much like permanent income.
Does summer break or 10-month pay affect my mortgage?
No. Lenders qualify you on your annual income, so being paid over 10 months or having summers off doesn’t count against you. Summer is often the easiest time for teachers to buy, because you have time to view homes and move.
Can I qualify for a mortgage while on maternity or parental leave?
Often, yes. Many lenders will qualify you on your regular income if you have a letter confirming your return-to-work date and position. Timing matters, so talk to me before your leave starts if you can.
Is the program available for education support staff, not just teachers?
Yes. Education assistants, early childhood educators and other school support staff qualify alongside classroom teachers, professors and instructors.
How is this different from my bank’s mortgage offer?
A bank or credit union can only offer its own mortgages. I compare 100+ lenders, including credit unions and lenders with educator programs, and add the program’s rebates on top.
Can I use this program to refinance, renew or get pre-approved?
Yes. The Teachers Mortgage Program is available for purchases, pre-approvals, renewals and refinances.
Where Teachers Start
The Teachers Mortgage Program works with every kind of mortgage. Start with the one that fits where you are:
- How much home can a teacher afford?: estimates by income at today’s rates
- Buying your first home: down payment options, the FHSA and the Home Buyers’ Plan
- Renewing your mortgage: compare your renewal offer before you sign
- Refinancing: consolidate debt or access your home equity
- Run your numbers: mortgage calculator, purchase calculator, closing cost calculator and land transfer tax calculator
- Partner is a police officer, firefighter or paramedic? See our First Responders Mortgage Program
I work with teachers and education workers across Hamilton, Burlington, Brantford, St. Catharines, Caledonia and the Kawarthas.
Get Your Preferred Educator Rate
You’ve dedicated your career to helping others. Let me help you get the best mortgage for your situation. Book a free consultation to see what you qualify for.
Contact Dustin