Do banks look at my net income or my gross income?

The most common approach is to average the last 2 years of your T4 income, the one shows on line 150 in your tax return documents. We do have lenders that will look at your gross income to support the higher number and take your net income up by 15-20%. On top of it we have lenders that will look at recent invoices to support more income for your mortgage.