Self-employed mortgage
Most lenders want proof of steady income and a solid employment history, which is hard to show when you run your own business. There are options, and we specialize in them.
Lenders usually look at the net income on your tax return, which is often lower for business owners because of deductions and expenses. Self-employed mortgage programs allow more flexibility in how income is assessed, so lenders see an accurate picture.
Close to 15% of Canada's workforce is self-employed. We help them find lenders that specialize in self-employed borrowers, on the most favourable terms available.
What you get
Flexible qualification
Programs built for income that doesn't come on a T4.
Competitive rates
Rates comparable to traditional mortgages for strong files.
Faster approval
Lenders who know these files move more quickly.
Personal service
We know which lenders fit your kind of business.
Self-employed mortgage questions
How much can I borrow if I'm self-employed in Ontario?
With mortgage default insurance you could qualify for up to 95% of the home's value; without it, up to 80%. Self-employed borrowers face the same debt service limits as everyone else. For CMHC insurance those are a maximum Gross Debt Service of 39% and Total Debt Service of 44%.
Are self-employed mortgage rates higher?
Not as a rule. As with any mortgage, stronger financial profiles get lower rates, and insured self-employed borrowers may qualify for rates as low as other insured mortgages.
How long do I need to be self-employed?
Lenders typically prefer two years of self-employment income, but it's still possible as a recently self-employed borrower. It can take more documentation.
Can I get a mortgage without proof of income?
Some programs allow it, usually with a minimum down payment and a lender affiliated with one of the insurers. CMHC-insured mortgages for self-employed borrowers do require proof of income.
Can I get pre-approved if I'm self-employed?
Yes, and it's a good idea before you start house hunting, so you know what you can afford.
“The team at CVE Mortgage Group Inc. — and specifically Colin — have provided excellent service and insights into the mortgage market. They are always quick to respond to questions in a professional manner and it is clear that they put client service first. A true delight to work with!”Tyler H · Homeowner
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Learn moreTalk to us about a self-employed mortgage
Tell us a little about your situation. A real person from our team will call you back, usually the same day during office hours.