Self-Employed Mortgages in Canada
Business owners and self-employed Canadians often face challenges with traditional banks. We have specialized programs using business financials, bank statements, and alternative documentation — so your mortgage reflects your real income, not just what you report to the CRA. Whether you are a sole proprietor, incorporated professional, contractor, freelancer, or commission-based earner, our team matches you with the right lender and income verification program. We work with over 50 lenders who understand that strong business revenue and write-offs are signs of a successful business, not a reason to decline your mortgage.
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Mortgage Solutions That Understand Business Owners
Traditional banks look at your line 150 income and reject you because your accountant did their job. We work with lenders who look at the full picture — your real revenue, your business trajectory, and your ability to service the mortgage.
Stated Income Programs
Declare a reasonable income for your profession without providing full tax documentation. Ideal for business owners who minimize taxable income through legitimate write-offs for vehicle expenses, home office, meals, and equipment. Lenders verify that your declared income is reasonable for your industry and geographic area using third-party income databases.
Bank Statement Qualification
We average your business bank deposits over 6-12 months to determine qualifying income. No tax returns and no Notices of Assessment are required — just proof of real revenue flowing through your accounts. This program is especially effective for business owners who reinvest heavily into their company while maintaining strong top-line revenue.
Business Financial Analysis
Our team analyzes your business financials, contracts, and revenue trends to present the strongest possible application to lenders. We review your T2125, T1 General, corporate financial statements, and upcoming contracts to build a compelling income narrative that accurately reflects your true earning capacity.
Income Gross-Up Programs
Some lenders gross up your reported line 150 income by 15-25% to account for business write-offs, increasing your purchasing power significantly. For example, if your NOA shows $80,000 in net income, a 20% gross-up would qualify you based on $96,000 — potentially adding $40,000-$60,000 to your maximum purchase price.
A-Lender & B-Lender Options
We start with A-lenders for the best rates, as several major banks and monoline lenders now have dedicated self-employed programs. If your situation requires more flexibility — such as less than 2 years of self-employment history or lower reported income — we have B-lender programs that accept alternative documentation with rates only 0.25-1.0% higher.
Professional & Contractor Programs
Specialized programs for doctors, lawyers, accountants, IT consultants, realtors, and other professionals with irregular or commission-based income. Many lenders offer preferential rates and higher income allowances for regulated professionals. Contractors with T4A income can also qualify under programs designed specifically for the gig economy and contract workforce.
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Self-Employed Mortgage Requirements
Qualifying for a mortgage as a self-employed Canadian depends on the program type. Here are the general requirements across stated income, bank statement, and traditional self-employed programs, along with how we help you navigate each one.
Requirements
- Minimum 2 years of self-employment history confirmed by CRA business registration, articles of incorporation, or NOAs showing business income
- Valid business licence, GST/HST registration, or professional designation confirming active business operations
- 6-12 months of business bank statements showing consistent revenue deposits for bank statement qualification programs
- T1 General tax returns with T2125 (Statement of Business Activities) for the most recent 2 years for traditional applications
- Minimum credit score of 600 for A-lender programs, with B-lender options available for scores of 550 and above
- Down payment of at least 10% for stated income programs (CMHC insurable) or 20% for some alternative documentation programs
- Declared income must be reasonable and verifiable against industry norms for your profession, location, and years in business
How We Help
- We analyze your financials across all three program types — stated income, bank statement, and traditional — to find the one that maximizes your purchasing power
- Our team prepares your application package with a detailed income narrative that helps underwriters understand your true earning capacity
- If your reported income is low due to write-offs, we identify lenders offering 15-25% income gross-up programs to boost your qualification
- We start with A-lender rates and only recommend B-lender programs when the flexibility justifies the slightly higher rate
- For newer businesses under 2 years, we explore exceptions for professionals with prior industry employment experience
- Our documentation checklist is customized to your business type — sole proprietor, incorporated, partnership, or contractor — so nothing is missed
- We provide a clear comparison of your qualification amount under each program so you can make an informed decision
Questions About Self-Employed Mortgages
Everything you need to know about getting a mortgage as a self-employed Canadian. Can't find your answer? Book a call with our team.
Qualification Basics
Absolutely. While major banks can make it difficult for self-employed Canadians, we work with over 50 lenders including specialists who understand business income. Stated income programs, bank statement verification, and alternative documentation programs are specifically designed for business owners, contractors, freelancers, and gig workers. Approximately 15% of Canadian mortgage borrowers are self-employed, so lenders have developed robust programs to serve this market.
Traditional mortgages rely on T4 income slips and Notice of Assessments. Self-employed programs instead look at your full financial picture — business bank statements, contracts, gross revenue, and industry income norms. Rates may be slightly higher (0.1-0.5% for A-lenders, 0.5-1.5% for B-lenders), but you can qualify for significantly more than what your tax returns show. The key advantage is that your purchasing power reflects your actual earnings, not your tax-optimized reported income.
Income & Documentation
It depends on the program. Some lenders use your line 150 income from your Notice of Assessment. Others use stated income programs where you declare a reasonable income for your profession. Bank statement programs average your deposits over 6-12 months. Income gross-up programs add 15-25% to your reported income to account for write-offs. We match you with the program that maximizes your qualifying income and purchasing power.
Most lenders require at least 2 years of self-employment history, confirmed by your CRA business registration or Notice of Assessment showing business income. Some programs accept 1 year if you have strong financials and were previously employed in the same industry. For incorporated businesses, your articles of incorporation date and corporate tax filings serve as additional verification of your business tenure.
Documentation varies by program. For traditional self-employed applications, you will need 2 years of T1 Generals with the T2125 schedule, Notices of Assessment, and business financial statements. For stated income programs, you need proof of business registration, 6-12 months of bank statements, and a signed income declaration. Bank statement programs require 6-12 months of complete business banking records. We tell you exactly which documents to gather based on the program we recommend.
Business Types & Rates
If your incorporated business is less than 2 years old, most A-lenders will require additional evidence of income stability. However, if you were previously employed in the same field before incorporating — for example, an IT consultant who went from full-time to independent — many lenders will count your total industry experience. B-lender programs are also more flexible with newer businesses, especially those showing strong revenue growth and consistent cash flow.
Not necessarily. If you can fully document your income through NOAs and tax returns and meet standard lending criteria, many A-lenders offer the same rates as salaried borrowers. Stated income and bank statement programs typically carry a small premium of 0.10-0.50% at A-lenders and 0.50-1.50% at B-lenders. The rate premium is usually far offset by the higher qualification amount, which means you can purchase the property you actually want rather than settling for what your tax returns would allow.
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