Self-employed mortgages
Your business is solid. Your file should be too.
Tax planning that saves you money can make your income look smaller to a lender. Preparing the right documents and choosing the right lender makes the difference between a refusal and an approval.
01
2 years of history
Most lenders average your last 2 years of declared income.
02
Incorporated options
Salary, dividends and retained earnings can be reviewed together.
03
Flexible lenders
Some lenders consider business bank statements for newer businesses.
How lenders read self-employed income
For sole proprietors, lenders usually use line 15000 of your T1 General, averaged over 2 years. Some will add back certain non-cash expenses like depreciation. If income is rising, the most recent year may be used; if it is falling, the lower year often counts.
For incorporated owners, lenders look at the salary and dividends you pay yourself, and some will also consider part of the company's pre-tax profit or retained earnings.
If your declared income looks low
Many business owners write off legitimate expenses that reduce taxable income. Some lenders offer programs that recognize a reasonable income for your industry when you have strong credit and a larger down payment, commonly 10% to 20% or more. Rates and conditions vary, so we compare them openly.
Planning ahead
- Talk to us before your accountant files your next return if a purchase is coming
- Keep business and personal accounts separate
- File and pay taxes on time; tax arrears are a common reason for refusal
- Keep your registration and licences current
How it works
From first call to the notary, without surprises.
01
Discovery call
Your goal, timeline, income type and down payment. 15 to 20 minutes, no commitment.
02
Your checklist
A personal document list for your situation, shared through a secure channel.
03
Options compared
Rate, term, prepayment rights and penalties side by side, so you choose with the full picture.
04
Approval to keys
Lender conditions handled and your realtor and notary coordinated until funding.
Do I need 2 full years of self-employment?
Can commission income qualify?
Can I use my company's money for the down payment?
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Your next step