Self-Employed & Business-for-Self

You run the business. The bank still says no.

Q: Will I pay a higher rate as a self-employed borrower?

It depends which lender fits. Many self-employed clients qualify at standard A-lender rates once the file is packaged correctly. If a B-lender or stated income is needed, the rate is a bit higher, but it is usually a short bridge, not permanent.

If you're self-employed in Ontario, you already know the drill: strong year, healthy deposits, and a lender who only looks at the income you wrote down to save tax. That's not a "no." That's the wrong reader. I'm a mortgage agent who reads the whole file.

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Here's the thing nobody at the branch tells you. Banks are built for one borrower: salaried, T4, predictable. The moment your income comes from a business you own, their system gets nervous, and it defaults to your line 150. Which, if your accountant is doing their job, is a fraction of what you actually take home.

I work differently, and so do the 30+ lenders I have access to. Some will average two years of business income. Some will lend on bank statements. Some don't need a single tax return. The trick isn't a secret rate. It's knowing which lender reads your kind of file, and packaging it so they say yes the first time.

This is probably you if…

You're incorporated, a sole proprietor, or paid on commission or contract.

Your business does well, but your tax return makes you look broke.

You've been self-employed less than two years and keep hearing "come back later."

You write off a lot, and now it's working against you on the mortgage.

Your bank declined you, and couldn't really explain what to fix.

You've got the down payment. You just need a lender who gets it.

Start here · The full guide

How Business-for-Self Borrowers Get Approved in Ontario

The complete walkthrough: stated income, income averaging, B-lenders, what documents actually move the needle, and what lenders look for when your income isn't a simple T4. If you read one thing first, read this.

Read the full guide →

Go deeper

Real Ontario scenarios, explained plainly. Pick the one that sounds like your situation.

Stated Income

Stated Income Mortgages in Ontario

Qualify on what your business genuinely earns, without handing over two years of tax returns. How stated income works, who it's for, and what it costs.

When the Bank Says No

Self-Employed and Your Bank Declined You?

A real file: six-figure business, 30% down, ten-year customer, declined on paper income. Here's exactly why it happens and how we got it approved.

Credit + Self-Employed

Self-Employed With Bad Credit in Ontario

Two strikes against you at the bank doesn't mean no path. How self-employed borrowers with a bruised credit file still get financed, and the realistic terms.

Alternative Lending

Private Lenders in Ontario

When a private lender is the right bridge and when it's a trap. An honest breakdown of who qualifies, what it really costs, and how to plan your exit.

Questions I get a lot

Can I get a mortgage if I've only been self-employed for a year?

Often, yes. The two-year rule is a bank preference, not a law. Several lenders I work with will look at a single year of strong business income, or your full history in the same line of work if you recently incorporated. The file just needs to be built to show stability, which is my job.

Do I really have to show two years of tax returns?

Not always. Stated income and bank-statement programs let you qualify on what the business actually earns rather than your reported net income. You'll typically need to show the business exists and money is flowing, but full T1 Generals and Notices of Assessment aren't the only path.

Will I pay a higher rate as a self-employed borrower?

It depends on which lender fits. Plenty of self-employed clients qualify at standard A-lender rates once the file is packaged correctly. If we need a B-lender or stated income, the rate is a bit higher, but it's usually a short bridge, not a life sentence. The goal is always to move you back to the best available terms.

My bank already declined me. Is that the end of it?

No. A bank decline means one lender's narrow rulebook couldn't make your file work. It says almost nothing about whether the deal is doable. Send me what the bank had, and I'll tell you honestly whether there's a path and which lender it runs through.