You earn well. You still can't buy.

You are not a low-income household. You do not need a housing subsidy. You earn a real wage and you have worked hard to build that.

By most measures, you are exactly the kind of person the housing market should work for.

And yet the numbers do not add up. You have run them. You know what a mortgage payment would look like. You know what you earn. And somewhere between those two numbers, there is a gap that a good income alone cannot close.

This is one of the least talked-about problems in BC's housing market. And it affects far more people than most realise.

The income you actually need to qualify

Getting a mortgage in Canada is not just about whether you can pay the monthly bill. The rules say lenders have to check whether you could still pay it if rates went up. This check is called the stress test.

The stress test uses a qualifying rate that is higher than the rate you would actually pay. If your lender offers you 4%, they test you at 6% or 5.25%, whichever is higher. Your income has to be big enough to cover payments at that higher rate.

According to nesto.ca, a mortgage comparison platform that runs these calculations monthly using current government rules and home prices, you need a household income of roughly $177,000 to $216,000 to buy a typical home in Greater Vancouver. Across BC as a whole, the range is about $143,000 to $175,000, depending on the type of mortgage and how long you take to pay it off. You can check your own numbers with the government's free calculator at fcac-acfc.gc.ca.

A household earning $105,000 combined, the middle-income level of Canadian first-time buyers in 2025, according to CMHC's 2025 survey, does not pass the stress test for an average BC home. That household has not done anything wrong. The income bar is just set above what working BC households typically earn.

The stress test was designed to protect people from taking on too much debt. But in a market where home prices have grown far beyond what ordinary incomes can reach, it also works as a wall that keeps out people who could easily afford the real monthly payment, just not the test rate.

The income documentation problem

Even for people who earn enough on paper, there is a second problem: proving it in the way banks want to see.

Banks want two years of steady income history, preferably from one employer, preferably salaried. But the people most affected by BC's housing gap are not executives with predictable salaries. They are nurses, teachers, tradespeople, and small business owners, people with real jobs and real incomes who work variable hours, contract jobs, or self-employed arrangements.

Life does not always look the way a mortgage application needs it to. And for a lot of working people, those two things are in direct conflict.

Does a pension or RRSP make up the difference?

A lot of people assume that having a good pension or RRSP ready for retirement means they do not need to worry as much about owning a home. The numbers from Statistics Canada tell a different story.

According to Statistics Canada's Survey of Financial Security 2023, people aged 55 to 64 who owned their home but had no pension had a median net worth of $914,000. People the same age who had a pension or RRSP but no home had a median net worth of $359,000.

A pension or RRSP is a good thing to have. It gives you income in retirement. But it does not build the same kind of wealth as owning a home over time. The gap it leaves is real, and for most people it is too big to make up another way.

A pathway that removes the barrier on Day 1

IGVhope was built around one core observation: the qualifying income problem and the deposit problem are both Day 1 problems. They do not last forever.

HOPE participants do not need to pass a mortgage stress test to move in. They go through the same kind of check a landlord would do, steady income and the ability to meet monthly housing costs. The mortgage test comes at Year 10, when they complete the purchase at the price set on Day 1.

By then, they have ten years of payment history behind them. A stronger credit score. More savings. If historical patterns over the last 80 years continued, and the home increased in value over ten years while the agreed price stays locked there can be equity when they enter ownership at year ten. If a purchaser only needs to loan 55 to 65% of the home's value, this means no mortgage insurance and a much smaller loan.

The income that did not qualify on Day 1 could then qualify comfortably at Year 10. The pathway gives you the time to get there.

Common questions

Why can't I qualify when I earn a decent income?

Mortgage qualification is not based on whether you can afford the monthly payment. It is based on whether you can afford a payment calculated at a rate 2% higher than what you would actually pay. This is called the stress test. On average BC home prices, passing that test requires a household income that most BC working families do not have. According to nesto.ca, you need around $177,000 to $216,000 in household income to qualify in Greater Vancouver. You can check your own situation with the government's free Mortgage Qualifier at fcac-acfc.gc.ca.

Does having a pension or RRSP mean I do not need to own?

A pension or RRSP is valuable. But it does not do the same job as owning a home. Statistics Canada found that people aged 55 to 64 who owned a home but had no pension had a median net worth of $914,000. Those with a pension or RRSP but no home had $359,000. Both help, but for most Canadians, not owning a home leaves a gap that savings and pension income alone cannot fill.

How does IGVhope work if my income does not qualify right now?

With IGVhope, you do not need to pass a mortgage stress test to move in. Entry is based on standard rental screening, a steady income and the ability to cover monthly housing costs. The mortgage qualification comes at Year 10, when you buy at the price agreed on move-in day. By then you have ten years of payment history, improved credit, and more savings. That changes the picture a lot.