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Self-employed mortgages in Ontario
Writing off income is good tax planning and bad mortgage paperwork. The work is structuring your file so a lender sees the income your business actually produces, and choosing the lender that reads it that way.
Who this is for
- Incorporated owners, sole proprietors and contractors
- Two or more years of business history
- Strong credit with a lower line 150 than reality
- Turned down or lowballed by a bank branch
What's included
Income structuring
We build the income picture from T1 Generals, notices of assessment, financial statements and, where allowed, add-backs and retained earnings.
Lender matching
Lenders treat business-for-self income very differently. We submit where your documentation reads strongest, not where the rate looks prettiest.
Stated-income options
Some A lenders and insurers offer business-for-self programs based on reasonable income. We tell you the rate difference in dollars.
Accountant coordination
With your permission we work with your accountant so a letter or statement arrives in the format the lender needs the first time.
What lenders count as self-employed income
Traditionally, lenders average the last two years of net income from your T1s or notices of assessment. If you are incorporated, some lenders will add back a portion of retained earnings or accept a salary plus dividends picture from your corporate financials.
This is where files are won or lost. The same borrower can be quoted a $420,000 mortgage at one lender and $650,000 at another purely because of how the income was presented and which policy applies.
Documents to have ready
Two years of T1 Generals with statements of business activities, two years of notices of assessment, articles of incorporation or business licence, two years of corporate financial statements if applicable, recent business bank statements, and confirmation your HST and income tax accounts are current.
Outstanding CRA balances need to be addressed before funding, so raise them early instead of at the lawyer's office.
When a stated-income program is the right call
If your write-offs are aggressive and your bank statements clearly show revenue, a business-for-self program can approve you at a modest rate premium. We compare that premium against waiting a year and filing differently, so you can choose on numbers rather than pressure.
How the process works
- 1
Structure review
We look at how you pay yourself — salary, dividends, retained earnings — before touching a rate sheet.
- 2
Income presentation
We build the income story lenders accept, using the strongest of the last two years.
- 3
Lender matching
Some A lenders treat business-for-self income far better than others. We go where your file wins.
- 4
Approval and closing
Conditions cleared with your accountant's documents, then instructions to your lawyer.
Documents we'll ask for
- Two years of T1 generals with statements of business activities
- Two years of notices of assessment
- Articles of incorporation or business registration
- Two years of corporate financial statements (if incorporated)
- Six months of business bank statements
- CRA statement of account showing no arrears
Documents come in through secure upload — never plain email. Missing something? Send what you have and we'll tell you what still matters.
Run the numbers
Calculators for this file
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- How long do I need to be self-employed to get a mortgage?
- Most lenders want two years of business history, supported by two notices of assessment. There are programs at one year or with a strong track record in the same field, and we will tell you which ones your file fits.
- Do I pay a higher rate as a self-employed borrower?
- Not if your reported income supports the mortgage on a standard A program. If you need a business-for-self or stated-income product, expect a premium. We put the exact difference in dollars per month in front of you.
- Can I use my corporate income for a mortgage?
- Often yes, through salary, dividends or an add-back of retained earnings depending on lender policy and your corporate financials. This is exactly why lender selection matters more for business-for-self files.
Find out what you actually qualify for
Send the basics and we'll come back with real lender options, or call and get an answer on the first conversation.