Self-Employed · Toronto & GTA
Self-employed mortgage guides
If you write off most of your income, the standard T4 mortgage process doesn't work for you. These guides explain Business-For-Self (BFS) programs, stated-income lenders, and the documentation that actually gets approvals.
Documenting BFS income
2-year average of Line 150 plus add-backs, or stated income with bank-statement support. Each lender treats it differently.
A vs B lender BFS programs
A lenders price BFS at standard rates with strict documentation. B lenders use bank statements and gross deposits, at a premium.
Incorporated owners
Dividend income, retained earnings in the company, and personal guarantees all factor in. Strong files use both T1 and corporate financials.
Guides in Self-Employed Mortgages in Toronto
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Self-Employed Mortgages in Toronto — frequently asked
How long do I need to be self-employed to qualify?
Most lenders want 2 years of self-employment history, evidenced by T1 Generals and Notices of Assessment. Some BFS programs accept less with strong compensating factors.
Can I qualify on stated income?
Yes, through specific BFS or alternative lender programs, typically with a higher rate and a larger down payment (often 10-20%).
Do I need to show 2 years of NOAs with no tax arrears?
Yes — A-lender BFS programs require CRA tax balance proof. Outstanding arrears can be addressed via refinance or B-lender bridge.
Get the BFS program that fits your numbers
Tell us your income structure (T1 vs incorporated, write-offs, retained earnings) and we'll match you to lenders that approve files like yours.
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