Examples of benefit income
Depending on policy and province, income sources such as EI, CPP, Child Tax Benefit, private disability benefits or WCB may be considered.
Regularity matters
A lender needs to understand whether income is recurring and when it is deposited.
Verification still applies
Applicants may need to verify identity, deposit history and account ownership even when income comes from a government program.
Approval is not automatic
Receiving a particular benefit does not guarantee approval, and a lender should not imply otherwise.
General information only. This article is educational and does not replace legal, credit or financial advice. Rules and product terms can change.