LHSC Healthcare
Employee Mortgage Program
As an employee of the London Health Sciences Centre (LHSC), St. Joseph's Health Care, or associated regional clinics, you keep our community strong. However, traditional retail banks often struggle with the unique income structures of medical professionals—penalizing nurses for variable shift premiums or turning down relocating physicians who haven't started work.
NewLife Mortgages offers specialized mortgage underwriting programs for London Health Sciences Centre staff, nurses, and relocating physicians, incorporating overtime averaging and 120-day rate guarantees.
🧑⚕️ Overtime & Premium Averaging
Nurses often earn shift premiums, weekend differentials, and overtime. While retail banks often ignore this variable income, we use a 2-year average of your T4s to qualify you for a significantly higher borrowing budget.
💼 Physician Relocation Packages
Relocating doctors, fellows, or specialists often have employment contracts starting in 30-90 days. We can secure mortgage commitments using your signed contract before you complete your first day of work.
Physician & Nurse Future Contract Income Calculator
Standard banks turn away resident doctors and new hospitalists due to lack of 2-year T4 history. We qualify you using 100% of your future signed employment contract + overtime stipends.
Qualified Mortgage Pre-Approval
What is your primary financing goal?
Select one option to customize your rate matrix.
Specialized Lending Policies for London Healthcare Workers
Relocating & Fellowships
Under our wholesale physician program, new doctors or fellows transferring to Victoria Hospital or University Hospital can secure mortgage approvals prior to their start date. This allows you to close on your home before your clinical schedule begins.
Part-Time & Casual Income
Many nursing and support roles are structured as part-time or casual. We work with monoline lenders who will allow us to use a two-year history of casual earnings to establish a stable income average, rather than rejecting the file as "unverifiable."
HBP & FHSA Stacking
Maximize down payment capital by stacking your RRSP Home Buyers' Plan ($60,000) and First Home Savings Account ($40,000). For a couple working at LHSC, this creates a **$200,000 pool of tax-sheltered capital** to avoid default insurance surcharges.
Specialized Projected Income Qualification Guide
Medical residents, fellows in training, and newly practicing professionals can bypass standard historical income documentation. Under our specialized institutional program, you qualify based on future projected earnings.
| Eligible Profession / Stage | Projected Qualifying Income | Timing / Eligibility Parameters |
|---|---|---|
| Medical Residents & Fellows (1st/2nd Year) | $185,000 | Currently enrolled in a recognized Canadian residency program. |
| Medical Residents & Fellows (3rd Year+) / Family Medicine | $225,000 | Residents in at least their third year or family medicine residents in last year. |
| Medical Specialties (Anesthesiology, Surgery, Pediatrics, etc.) | $300,000 | Specialist residents or fellows in their final year, or newly practicing within 36 months. |
| Cardiology Specialists | $359,000 | Cardiology residents in final year or newly practicing within 36 months. |
| Ophthalmology Specialists | $379,000 | Ophthalmology residents in final year or newly practicing within 36 months. |
| Dentists (General & Specialty) | $175,000 | Students in final year of study, or newly practicing within 24 months. |
| Optometrists | $96,000 | Newly practicing within 12 months (or final year study at Waterloo/Montreal). |
| Veterinarians | $86,000 | Newly practicing within 12 months or final year of recognized Canadian program. |
* Eligibility holds for uninsured purchases up to 80% LTV, or high-ratio insured purchases up to 90% LTV (sliding scale rules apply).
* Verification of program enrollment or graduation completion certificate is required. Gifted down payments from immediate family are fully acceptable.