Your tax return doesn't
tell the whole story.
Specialized mortgage programs for entrepreneurs, freelancers, and incorporated business owners. Stated income, business-for-self, and bank-statement programs all available.
- BBB Accredited
- No fees, ever
- Licensed Alberta brokers
Get Your Free Estimate
A specialist will review your numbers and email your estimate within 5–10 minutes.
We never pull your credit for this estimate. Your information is never shared or sold. For more information, please refer to our Privacy Policy.
Tell us a bit more
This helps us understand where you're at so we can match you with the right options.
What's your down payment situation?
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Your Income & Debts
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We never pull your credit for this estimate. Your information is never shared or sold. For more information, please refer to our Privacy Policy.
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We've received your information and will be in touch shortly to discuss your self-employed mortgages options.
The Skip the Down Payment program — and any mortgage with less than 20% down — requires solid credit history. Here's what good credit looks like and how to build it.
If you don't have any credit history yet, start with secured Visas from Scotia Bank and Home Trust — they're easier to approve for and a great first step. You can track your score for free at www.equifax.ca.
Down payment ranges and what credit you'll need
- 0–4% down: excellent credit, score above 680
- 5–9% down: score of 620+, no late payments or collections in the last 2 years
- 10–19% down: score of 580+, no recent late payments or collections
- 20%+ down: multiple lenders available depending on your interest rate tolerance
Tips to bump up your credit score
- If you've missed payments, try to open or maintain three credit accounts with perfect repayment going forward. (Student loans don't count.)
- Re-establishing payment history typically takes:
- ~12 months for one missed payment
- 2–3 years for 60- or 90-day late payments
- 3+ years for written-off debts (excluding minor collections like cell phone bills)
- Consumer proposals and orderly payment of debt are treated like a bankruptcy for mortgage purposes — wait times are significantly longer.
- Keep credit utilization low. Utilization is the ratio of balance to total credit limit. 30% or under is ideal.
- If you plan to purchase a home within 24 months, do not finance a vehicle purchase — the high utilization of that debt will reduce your score and your mortgage approval chances.
Why closing cards can hurt you
Say you have these accounts:
| Account | Limit | Balance |
|---|---|---|
| Credit Card A | $15,000 | $0 |
| Credit Card B | $10,000 | $0 |
| Credit Card C | $5,000 | $4,000 |
| Loan (orig. $20,000) | $20,000 | $17,000 |
Total utilization: $21,000 balance ÷ $50,000 total limit = 42% — that's healthy.
Now close Cards A and B (because you don't use them). New utilization: $21,000 ÷ $25,000 = 84% — that's bad. Your credit score could drop 50 points overnight.
Smart taxes shouldn't kill your mortgage
Good accountants minimize your taxable income. That's the whole point of being self-employed — keep what you earn. The problem: lenders read your tax return and see a low number, and conclude you can't afford the mortgage you obviously can.
We work with lenders who specifically understand self-employed Canadians. Stated-income programs, business-for-self programs, bank-statement programs, alt-A programs — there are many ways to underwrite a self-employed file beyond the line that says 'Total Income' on your T1.
Right fit checklist
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2+ years of self-employment. Most programs need to see two consecutive years of business filings or T1 General with self-employed income.
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Strong business cashflow. Bank statement programs look at money flowing through your business account. Stated-income programs accept your declared income, with reasonableness checks.
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Credit score 650+. Self-employed programs tend to have stricter credit requirements since income verification is less direct.
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Down payment of 10%+. Self-employed insured programs usually require slightly more down payment than employed-borrower programs.
Three steps to a quote
Tell us how you earn
Sole prop, incorporated, contract income, mix of T4 and self-employed — different setups need different lender programs.
Right-fit program selection
We pick the lender + program that matches how your income actually flows. Stated, business-for-self, or bank-statement, depending on file.
Underwriting and funding
Document collection is heavier than for an employed borrower — but we handle it. Funding usually 30-45 days from application.
What we can do that banks usually can't
Stated-income programs
Declare your income at a reasonable level for your business; lender works with that number rather than just the line on your T1.
Business-for-self programs
Federally-insured BFS programs let you qualify on actual business cashflow, not just personal taxable income.
Bank-statement underwriting
Some lenders qualify based on 12-24 months of business bank statements — total deposits become the income proxy.
Add-back of legitimate write-offs
Vehicle, home office, travel, depreciation — many can be 'added back' to your taxable income for qualifying purposes, with proper documentation.