How psychiatrists earn.
Psychiatrists commonly mix hospital salary, fee-for-service billing, and private practice. Many incorporate, particularly those with significant private practice income.
The numbers, with sources.
Nothing on this page is a guess. The projected income comes from the program chart, the qualification figures are computed from it with the same ratios a lender applies, and the income data comes from public reporting.
What matters for your mortgage.
Incorporation and your qualification.
Psychiatrists with private practice income who incorporate are underqualified by standard lenders that see only the T4. Corporate-income programs read the corporation, typically lifting capacity by 50-80%.
Psychiatry mortgage questions.
How much mortgage can a psychiatrist qualify for in Canada?01
On the physician program's projected income of $300,000 for psychiatrists in the final year of training and the first 36 months of practice, the debt-service ratios allow roughly $1,710,000 with 20% down and no student debt, or about $1,400,000 with 10% down and $150,000 of student debt. Established psychiatrists qualify on actual income, and incorporated psychiatrists on corporate income, which is usually higher.
How is private practice income treated for a psychiatrist mortgage?02
Private practice billing is read differently by each lender. A physician-friendly lender uses recent billing history rather than requiring a long track record, and combines it with salaried and fee-for-service income.
Prices and payment examples are estimates for planning only. Your actual numbers depend on income, down payment, debt, credit, location, and current lender pricing.