HOW MUCH CAN A CONTRACTOR BORROW FOR A MORTGAGE?

It Depends on Your Contract Rate One of the biggest questions contractors ask is: How much can I borrow? The good news is that if you’re a day-rate contractor, many lenders calculate your mortgage affordability based on your contract rate, not just salary or dividends. The typical formula lenders use is: Day rate × 5 days × 46 to 48 week