Self-Employed Mortgage

If you’re self-employed, you already know the frustration: you write off expenses to lower your taxes, and then the bank says your income is “too low” to qualify. I get it — I’ve been incorporated and self-employed for over 13 years myself. There are real solutions, and I use them every week.

Most banks want a two-year average of your personal tax returns. But that’s not your only path. Here are the main options…

1. Stated income

State a reasonable income based on your corporate financials and time in business. The income must be reasonable for your industry and supported by your recent Notice of Assessment. Typically available with as little as 10% down and a 680+ credit score.

2. Bank-statement (B) lending

Some lenders will use your last 6 months of business bank statements to confirm income — no personal tax returns required. Flexible on credit, typically 20% down minimum. Ideal if your tax returns don’t reflect your true cash flow.

3. Newer business owners (under 2 years)

Been incorporated less than two years? There are still options. Insurer programs (Sagen, CMHC, Canada Guaranty) have specific tenure rules, and I know how to structure around them — including conventional vs. insured trade-offs. Let’s talk through your specific situation.

Why use a broker if you’re self-employed

A bank gives you one set of rules. I match your business structure to the right lender out of 30+ — which is the difference between “declined” and “approved” for a lot of self-employed clients.