Self-Employed Mortgage
"I earn well but my tax returns don't show it."
We work with self-employed Canadians every day. From bank statement programs to stated-income and no-docs options, we'll structure a mortgage around how you actually earn — not just your line 150.
- Bank statement & stated-income programs
- No T1 generals required for many lenders
- Bruised credit and discharged bankruptcies considered
- Pathway back to A-lender pricing
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Last updated 2026-07-10
Who a self-employed mortgage is — and isn't — for
- Incorporated business owners who pay themselves dividends, salary, or a mix
- Sole proprietors writing off legitimate expenses to reduce taxable income
- Commissioned professionals (realtors, insurance, mortgage agents) with variable income
- Contractors invoicing through a personal services corporation
- Under 12 months of self-employment history in the same industry
- Chronic CRA arrears that can't be paid out of the new mortgage
Myths vs. reality
Self-employed borrowers pay much higher mortgage rates.
Stated-income A-lender programs price within 0.10–0.25% of standard employee rates. Only files that require B-lending run 1–2% higher — and those files usually can't get approved as employees either.
Big-Five banks are always fine for self-employed borrowers.
Big-Five programs are the strictest on self-employed files. Monolines, credit unions, and alternative lenders have far more flexible self-employed programs.
You have to stop writing off expenses to get a mortgage.
The point of a broker is to structure around your actual tax return, not to force you to overpay tax for two years to qualify.
Self-Employed Mortgage Programs
| Full-Doc (Line 150) | Stated-Income (A-Lender) | Bank-Statement (B-Lender) | |
|---|---|---|---|
| Qualifying income basis | 2-year line 150 average | Stated + industry reasonableness | 12 months business banking deposits |
| Minimum time self-employed | 2 years | 2 years | 1 year |
| Rate premium vs. employee | None | +0.10–0.25% | +1–2% |
| Down payment min | 5% | 10% | 20% |
| Credit requirement | 660+ | 680+ | 550+ |
Common questions
Real answers from a licensed Ontario mortgage broker.
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From the Learning Centre
About the broker
Jay Klair
Licensed Mortgage Agent Level 2 · License M09000869
Jay Klair is a licensed Ontario mortgage broker with 15+ years of experience helping over 500 families across the province — including specialists work in mortgage renewals, refinance, private mortgages, reverse mortgages, HELOCs, construction financing, debt consolidation, and self-employed mortgages.
Licensed through Real Mortgage Associates (FSRA #10464), part of the DLGC Group of Companies, with access to 50+ lenders across prime, alternative, and private channels. Serving Ontario in English, Punjabi, and Hindi.
Other services
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Access your home's value tax-free with no monthly payments required. Ideal for Canadian homeowners 55+ looking to supplement retirement income, fund renovations, or consolidate debt.
Learn moreReady to see your options?
Free, confidential, no obligation. Most clients hear back from Jay the same business day.
- Free, no-obligation consultation
- Response within 24 hours
- 100% confidential
- Solutions for every situation