If you go into your bank, then your answer is likely to be no.

If you go to a mortgage  broker, then the answer will likely be yes.

The truth is..... major banks choose not to use this income source to qualify clients for a mortgage.  This can seriously impact what a young family can qualify for when shopping for a home.  The good news is that Mortgage Brokers, Canada's real professionals in the mortgage industry, not only have access to major banks when that is the best option for you, but also have access to trust companies and financial mortgage companies.

There are several fantastic lenders in Canada that will use this income in many cases.  These are lenders that offer mortgages that have all the same features as the major bank's do, but see that each client is unique, and has different needs and income sources.

At the end of the day, if you have child tax income, you may be pre-qualified for much more than your bank can offer.

The rule is:  Child tax income can be used for any child that is under 12 when you apply for a mortgage. 

Universal Child Care Benefit:  For those of you with little ones under 6, you are probably wondering about that 100 bucks you get each month as well.  If you are receiving it at the time you are looking to get a mortgage, it is also available to be used as income.

In a situation where a client qualifies for $240,000 at their bank, if you had $400/month in child tax and universal, you would roughtly qualify for an additional $30,000, bringing the purchase price of the home you are shopping for up to $270,000.

That can put you and your kids :) in a much nicer home.

Scott