Two years of history
Most lenders want two years of Notices of Assessment and proof that your personal taxes are paid. Some accept less if you moved from a job into the same line of work.
Self-employed • Waterloo • Kitchener • Cambridge
Self-employed? Your tax return doesn't tell the whole story.
Write-offs keep your taxes down and make banks say no. Amit knows which lenders look past the net income line, and how to present your file so it gets approved.
- 5.0 on Google
- $110M+ funded
- Waterloo Region
How self-employed mortgages work
Banks usually qualify you on the net income from your tax return. Other lenders are more flexible about how they read your income.
Programs for business owners
Some lenders and mortgage insurers have programs that look at a reasonable income for your trade, backed by bank statements and business records, not only your net income.
Incorporated owners
If you own a corporation, some lenders count dividends, retained earnings or a share of company profit. Amit sends your file to the ones that do.
Renewing in Waterloo Region? Check your window.
Self-employed borrowers often renew with their current lender because switching feels hard. Many lenders let you hold a rate up to 120 days before your renewal date, so you have time to compare. Pick your renewal month.
Some of the lenders Amit works with
What would your payment be?
Canadian semi-annual compounding, with mortgage default insurance added automatically when your down payment is under 20%. A quick estimate, not a quote.
For a real number based on your credit and income, ask Amit.
Self-employed mortgage questions
Something else on your mind? Text Amit. He usually replies the same day.
What documents do self-employed borrowers need?
Usually two years of personal tax returns and Notices of Assessment, proof that your personal taxes are paid, and business records such as a business licence, articles of incorporation or financial statements. Amit gives you an exact list.
Can I qualify with less than two years self-employed?
Sometimes. If you moved from a job into self-employment in the same field, some lenders look at your combined history.
Will I pay a higher rate because I'm self-employed?
Not necessarily. With good documents, many self-employed borrowers get the same rates as anyone else. If your file needs an alternative lender, Amit shows you the cost in writing first, along with a plan to move back to a regular lender.
Does it cost anything to work with Amit?
Not for standard residential purchases, renewals and refinances. The lender pays Amit when your mortgage funds. If your file needs a private or alternative lender, any fee is shown to you in writing first.