How income and life changes can affect re‑qualification

Life rarely stays the same over a 3–5 year mortgage term. Some common changes that can impact re‑qualification include:

• Income changes – A lower salary, fewer overtime hours, or switching from salaried to commission or self-employed income can all affect how your income is viewed.

• New debts – Car loans, lines of credit, personal loans, or higher credit card balances can influence your debt servicing ratios.

• Family changes – Adding childcare costs, supporting dependents, or separating from a partner can all change your financial picture on paper.

You may still be fully comfortable with your payments, but a new lender has to look at your situation through today’s rules and risk models.