“I’m a self employed person and I was struggling to get home loan for my 2nd house… He helped me to get best mortgage rate with peace of mind.”
sachin patel · Google review
Sole proprietors
Contractors, consultants, trades
Depending on the lender and program, gross-up methods, business income and bank statements may help provide a more complete picture of qualifying income.
Your personal tax return isn't always the whole story. Depending on the lender and program, corporate financials, dividends, cash flow and other documentation can help demonstrate the strength of your business.
Incorporated
Business owners & professionals
A short self-employment history does not automatically mean there is no financing path. Your previous experience, industry, income, credit, down payment and overall file may all matter.
Newly self-employed
Less than two years in?
Self-Employed Mortgages · BC & Alberta
Banks read tax returns. We read businesses.
Your accountant’s job is to make your income look small. Your bank’s job is to read that number and stop there. We work with the lenders who read corporate financials, dividends and business cash flow properly — structuring files to qualify under B-20, not to evade it.
The core problem
What banks see vs. what TruWest sees.
You write off expenses to keep taxes low. Smart. Then the bank uses that same low income to decline you. Not smart. This is the problem we spend most of our time on.
What the bank sees
Declared personal income that may not reflect the full strength of your business.
Business deductions that can reduce the income recognized under traditional qualification.
Two years of averaged tax returns: regardless of where the business is heading.
Standard underwriting criteria that may not capture the complete financial picture.
A single lending policy, with no room to move.
Result: declined—or approved for far less than expected.
What TruWest sees
The bigger financial picture behind your business and personal income.
Corporate financials, dividends, business cash flow and available documentation.
Business bank statements and revenue trends, where a lender’s program allows.
Lender programs designed for different types of self-employed borrowers.
Multiple financing paths — not just one bank’s lending policy.
A strategy built around what is realistically possible.
Which one are you?
Three self-employed files. Three different approaches.
Type 01
Sole Proprietors
Contractors, consultants and trades. Depending on the lender and program, gross-up methods, business income and bank statements may help provide a more complete picture of qualifying income.
Type 02
Incorporated Business Owners
Your personal tax return isn’t always the whole story. Depending on the lender and program, corporate financials, dividends, retained earnings and cash flow can help demonstrate the strength of your business.
Type 03
Business-for-Self, under 2 years
A short self-employment history does not automatically mean there is no financing path. Your previous experience in the same field, industry, income, credit, down payment and overall file may all matter.
Stated income & alternative lending
If the A-lender says no, that’s a starting point: not the end.
Alternative (B-lender) and private financing can bridge a self-employed file that doesn’t fit today. Used properly, it is a planned route with an exit: not a permanent home.
Phase 01
Place the file honestly
We position the file with a lender whose program actually fits how your income is documented, stated income or alternative programs where a lender offers them. With the terms and costs set out plainly before you commit.
Phase 02
Use the term to strengthen
The term is working time: build the two-year picture, clean up credit, keep corporate filings current, and document income the way A-lenders want to see it.
Phase 03
Plan the exit from day one
We map the intended move back to A-lending before you sign, and review the file well ahead of renewal. Outcomes depend on your circumstances and lender criteria at that time.
Come prepared
What we’ll usually ask for.
Not every lender asks for everything. Having these ready simply makes the assessment faster and the options clearer.
Business bank statements
→ Typically 6–12 months of business account statements
→ Used by some programs to evidence revenue and cash flow
→ Consistent deposits matter more than any single month
T1 Generals
→ Usually the two most recent years, complete with all schedules
→ Shows declared personal income and business statements
→ Bring them even if the declared income looks low. It’s the starting point, not the conclusion
Notices of Assessment (NOAs)
→ Matching the same two tax years
→ Confirms filings are up to date
→ Any taxes owing should be disclosed early. It affects which lenders can proceed
Corporate financial statements
→ For incorporated borrowers: accountant-prepared financials, typically two years
→ Balance sheet, income statement, and retained earnings
→ Articles of incorporation or business licence where applicable
Supporting documents
→ Photo ID, down payment confirmation and mortgage statements on existing properties
→ Leases or rental agreements if you own rental property
→ Contracts or invoices for contractors and consultants
Document requirements vary by lender and program and this list is a general guide, not a complete or final requirement list for any specific application. Please don’t send confidential financial documents through the form below: we’ll arrange a secure method once we’ve spoken.
Client Reviews
Self-employed clients, in their own words.
Read genuine client feedback on our Google Business Profile.
Questions
Self-Employed Mortgage FAQ
Straight answers to what people actually ask. Every situation is different — these are general guides, not advice on your file.
Can I get a mortgage in Canada if I write off most of my income?
Often, yes. Write-offs lower your declared income, which is exactly what a bank qualifies you on, and why so many self-employed files stall there. Lenders outside that box may consider corporate financials, dividends, retained earnings or business bank statements instead. Whether any of them fit depends on your documents and the lender’s program at the time.
How many years of self-employment do lenders want to see?
Two years is the common benchmark, but it isn’t universal. Some lenders will consider a shorter history where your prior experience is in the same field and the rest of the file — credit, down payment, reserves — is strong. Under two years is a conversation, not an automatic no.
What is a stated income mortgage, and would I qualify?
Stated income programs let certain business-for-self borrowers declare an income that reflects their business rather than only their tax returns, usually supported by bank statements and business documentation. Availability, criteria and pricing vary by lender and change over time. It suits some files and not others. We’ll tell you which yours is.
My bank declined me. Is a B-lender a permanent downgrade?
It shouldn’t be. Alternative (B-lender) financing is best used as a planned bridge: place the file honestly, use the term to build the documentation A-lenders want, and map the exit before you sign. Whether a move back to A-lending is available later depends on your circumstances and lender criteria at that time.
What documents should self-employed borrowers have ready?
Typically two years of T1 Generals with all schedules, matching Notices of Assessment, business licence or articles of incorporation, and — if incorporated — accountant-prepared corporate financials. Six to twelve months of business bank statements help for programs that read revenue directly. Requirements vary by lender.
