Self-employed mortgages
in Canada — the full
A → private spectrum.

Most A-lenders want 2 full years with 2 years of T1 Generals and Notices of Assessment. Some go 1 year with offsetting strengths (large down payment, prior salaried history in the same field). Private lenders have no minimum time-in-business — they qualify on equity, not income story.

Stated income means the lender accepts an income that is reasonable for your industry, role and years in business instead of your line 15000 net income. Insured business-for-self programs (CMHC, Sagen, Canada Guaranty) allow up to 90% loan-to-value (10% down) when the stated income is reasonable, you typically have 2+ years in business, and your NOAs and business documents back it up. Uninsured stated-income B-lender programs typically need 20–35% down.

Standard package: 2 years of T1 Generals (all schedules), 2 years of Notices of Assessment, 2 years of corporate financial statements if incorporated (T2 + financials), 90 days of business banking, articles of incorporation, GST/HST registration (if applicable), and confirmation you’re in good standing with CRA.

A-lenders (banks and monolines): the best rates, the strictest income documents, usually 2+ years in business. B-lenders (Home Trust, Equitable, Haventree and others): looser income documents, one year of history often accepted, a higher rate plus a 1–2% lender fee, and typically 20–35% down on stated income. Private (a MIC or individual): asset-based and fast; CMHC data put the 25 largest mortgage investment entities at a 9.6% average single-family rate in Q3 2025.

Yes — most A-lenders accept 2 years of T5 dividend income, typically averaged over that period. Whether a lender grosses dividends up, and by how much, is set in that lender’s own underwriting policy. The one gross-up a mortgage insurer documents is CMHC’s: sole-proprietor or partnership income may be grossed up by 15%. If you take both salary + dividends we layer them, and where retained earnings are strong certain specialty lenders use retained earnings + add-backs.

We add back legitimate deductions: CCA (capital cost allowance/depreciation), business-use-of-home, vehicle expenses, professional development, and certain non-cash deductions. The lender sees your gross qualifying income, not your tax-optimized net.

Not on a documented or insured A-lender file: you’re priced essentially like a salaried borrower. The premium comes from the lender tier, not from self-employment. Alt-A lenders price above A-lenders, usually with a 1–2% lender fee. The 25 largest private MIEs averaged 9.6% in Q3 2025 (CMHC). Many BFS clients who start on B or private refinance to A-lender pricing within 1–2 years once they have two clean NOAs.

Sometimes, but not on a stated-income program. CMHC’s self-employed program reaches 95% LTV on 1–2 units where income is documented traditionally. Stated-income programs cap at 90% LTV, so 10% down, and Canada Guaranty requires 5% of it from your own resources. The insured purchase price must be under $1.5M.

Most A-lenders require CRA debt cleared before close. B-lenders often roll CRA debt into a refinance up to 75–80% LTV — letting you consolidate at mortgage rates instead of paying CRA’s daily-compounded interest on overdue balances. Private lenders fund with CRA arrears in place if equity supports it.

Common combination. Some B-lenders will consider credit scores in the 500s with self-employed income, depending on equity and the reason for the credit issues. Private lenders are largely Beacon-agnostic. We map the exit to A-lender pricing at intake — typically 12–24 months once both credit and income story stabilize.