Self-Employed Mortgage Specialists

The bank said no? We hear that all the time. Banks use rigid income calculations that don’t work for business owners. We know which lenders understand self-employment — and how to structure your file for approval.

– WE UNDERSTAND BUSINESS OWNERS

Why Banks Make this Harder Than It Needs to Be

Banks look at your tax returns and see a low net income — because you’re smart about write-offs. They don’t understand that your $60,000 reported income actually reflects a business generating $150,000 in revenue.

The problem isn’t your income. It’s how the bank calculates it.

As mortgage brokers who specialize in self-employed clients, we know which lenders:

Common scenarios we help with:

✅ Use gross revenue instead of net income

✅ Accept business bank statements alongside tax returns

✅ Work with businesses that are less than 2 years old

✅ Offer stated income programs for qualified borrowers

✅ Understand seasonal and variable income

Julie Jeffery (RECA License #L-184716) and Andy Jeffery (BC License #X301234) have helped hundreds of business owners get approved after being declined elsewhere.

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GOOGLE REVIEW

As a self-employed contractor, I was turned down by my bank twice. Julie found a lender who understood my income and got me approved in under a week. She made a stressful situation feel manageable.

Trevor R.

Sel-Employed · Calgary

– WHO WE HELP

Self-Employment Comes in Many Forms

Whether you’re a freelancer, contractor, or incorporated business owner, we’ve helped clients just like you.

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Contractors & Trades

Electricians, plumbers, carpenters, and skilled trades with variable project income. We understand seasonal work and contractor vs. employee distinctions.

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Freelancers & Consultants

IT consultants, designers, writers, and gig economy workers. Multiple income streams are common — and we know how to present them to lenders.

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Incorporated Business Owners

Whether you pay yourself salary, dividends, or a combination, we can structure your application to maximize your qualifying income.

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Commission-Based Professionals

Real estate agents, insurance brokers, and sales professionals. Your income may vary year to year, but that doesn’t mean you can’t qualify.

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Just started your business? While most banks require 2 years, we have lenders who will consider newer businesses with strong financials.

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Side Business + Employment

Have a day job plus a side business? We can often use both income sources to maximize your approval amount.

– WHAT YOU’LL NEED

Documentation for Self-Employed Mortgages

Don’t worry if you don’t have everything — we’ll tell you exactly what’s needed for your specific situation.

STANDARD DOCUMENTS

✅ T1 General tax returns (2 years, all pages)

✅ Notice of Assessment (NOA) from CRA (2 years)

✅ Business financial statements if incorporated

✅ Articles of Incorporationor business license

✅ Business bank statements (3-6 months)

✅ Personal ID and proof of address

FOR STATED INCOME PROGRAMS

✅ Larger down payment (typically 20-35%)

✅ Proof business exists (website, contracts, invoices)

✅ Business bank statements showing revenue

✅ Accountant letter confirming income (some lenders)

✅ Good credit history (typically 650+)

💡 Pro Tip

Keep business and personal expenses separate. Lenders love clean, organized financials — it makes approval faster and smoother.

– COMMON QUESTIONS

Self-Employed Mortgage FAQ

Can I get a mortgage with less than 2 years self-employed?

Yes, but options are more limited. Some lenders will consider businesses as young as 12 months if you have strong revenue, good credit, and a larger down payment. We also have lenders who will consider your employment history prior to self-employment — so if you were an electrician for 10 years before starting your own electrical business, that counts.

What if my tax returns show low income due to write-offs?

This is the most common challenge — and exactly why brokers like us exist. We have lenders who use “add-back” calculations, adding non-cash expenses (like depreciation, home office, and vehicle expenses) back to your net income. Some lenders use stated income programs where your bank statements matter more than your tax return. We’ll find the approach that shows your true income.

Do I need a bigger down payment as a self-employed borrower?

Not necessarily. If your income is well-documented and your tax returns support the mortgage amount, you can qualify for CMHC-insured mortgages with as little as 5% down. Stated income programs typically require 20-35% down because the lender is taking on more risk. We’ll explore all your options to find the best fit.

Can I qualify with bad credit as a self-employed borrower?

Yes — but expect higher down payment requirements and potentially higher rates. We work with alternative lenders who specialize in bruised credit situations. The key is having a plan: we can often help you improve your credit while getting you into a mortgage now, with a strategy to refinance to better terms in 1-2 years.

What's the difference between stated income and traditional verification?

Traditional verification uses your T1 General tax returns — whatever line 15000 says is your income. Stated income programs allow you to “state” your actual income, backed by business bank statements and sometimes an accountant letter, rather than relying solely on tax returns. Stated income typically requires a larger down payment but can unlock significantly higher purchase prices for business owners with strong cash flow.

How do you calculate self-employed income?

It depends on your business structure. For sole proprietors, we typically average 2 years of net business income from your tax returns. For incorporated businesses, we look at salary, dividends, and retained earnings. We can also add back certain expenses that don’t represent real cash outflow — things like depreciation, one-time business expenses, or home office deductions. We’ll walk through your specific numbers together.

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💼 SELF-EMPLOYED? WE GET IT.