Challenges Faced by Self-Employed Canadians

Traditional mortgage rules were built with salaried employees in mind. That’s why many lenders raise eyebrows when they see:

• Irregular monthly income

• Claimed deductions reducing net income

• Minimal T4s or pay stubs

• Lack of long-term income predictability

These hurdles can lead to frustration, delays, or even rejections if not properly addressed.

But don’t worry—solutions exist. You just need a mortgage expert like Jose Delgado who knows how to present your file the right way.

How Lenders View Self-Employed Mortgage Applications

Lenders want to see stability and reliability. While salaried employees can hand over a few pay stubs and get approved, self-employed borrowers must go the extra mile.

Most lenders require:

• 2 full years of business or self-employment history

• Notices of Assessment (NOA)

• T1 Generals (full tax returns)

• Business financial statements (if incorporated)

Lenders assess both your stated income (what you declare) and your provable income (what’s on your tax returns). Some use your average income over the past 2 years, while others take the lower of the two.

Need clarity on what documents will give you the best chance?
📞 Contact Jose Delgado now for a free 30-minute consultation to review your file!

Documents You Need to Qualify

To build a strong Self-Employed Mortgage application, prepare the following:

✅ Two years of T1 Generals (tax returns)
✅ Notices of Assessment for two years
✅ Proof that your taxes are paid up to date
✅ Financial statements if you’re incorporated
✅ Six months of business and personal bank statements
✅ Articles of Incorporation (if applicable)
✅ Copy of business license or HST/GST registration
✅ Client contracts or invoices (if available)

Jose Delgado can help you organize and present this information professionally to maximize your approval odds.

How Much Can You Borrow?

Your borrowing power depends on your provable income, debt levels, credit score, and the lender’s policies. As a self-employed borrower, you may qualify for:

• 80%–95% loan-to-value for purchases (depending on documentation)

• Access to insured or uninsured mortgages

• Use of gross business income or stated income (in some cases)

Lenders will also calculate your debt service ratios, which compare your monthly income to your monthly expenses. Jose can help you understand these numbers and plan your application accordingly.

💡 Want to know how much you could qualify for?
📞 Book a free 30-minute consultation with Jose Delgado and get personalized advice or apply for a mortgage here

Strategies to Increase Your Approval Odds

If your income doesn’t tell the full story, these strategies can strengthen your mortgage application:

1. Improve Your Credit Score: A strong score (680+) can unlock better rates and more flexible lenders.
2. Lower Your Debt: Pay off credit cards and loans to improve your debt ratios.
3. Increase Your Down Payment: The higher your down payment, the lower your risk to lenders.
4. Separate Business & Personal Finances: Keeping them distinct helps present a cleaner application.
5. Work with a Mortgage Broker: An experienced broker like Jose Delgado can match you with lenders that specialize in self-employed clients.

Types of Mortgages Available for the Self-Employed

There’s no one-size-fits-all when it comes to Self-Employed Mortgage options. Jose can help you explore:

• Stated Income Mortgages: For borrowers with strong credit but limited documentation.

• Traditional Mortgages with Full Documentation: When your income is clearly reflected in your taxes.

• Alternative Lenders (B-Lenders): For those with lower credit or irregular income.

• Private Mortgages: Short-term solutions when conventional lenders say no.

Each path has pros and cons. Let’s walk through the best route for your situation.

📞 Book your 30-minute free consultation now and find out which option fits you best!

Refinancing as a Self-Employed Homeowner

Already own a home and looking to access equity? Whether it’s to consolidate debt, invest in your business, or fund renovations, refinancing is a powerful tool.

Self-employed homeowners can refinance up to 80% of their home’s value, but the documentation requirements remain strict.

Jose Delgado can:

• Evaluate your equity position

• Shop for the best rates across lenders

• Help you navigate B-lender or private options if needed

Jose Delgado: Your Trusted Partner in Mortgage Approval

With years of experience working with self-employed Canadians, Jose Delgado understands the unique challenges you face. He doesn’t just submit paperwork—he builds compelling mortgage files that tell your financial story the way lenders want to hear it.

His goal is to make your mortgage journey smooth, stress-free, and successful.

🏡 Let’s turn your self-employment into a mortgage-approved success story.
📞 Call now for your 30-minute free consultation!

Book Your Free 30-Minute Consultation Today!

Ready to take the next step toward homeownership or refinancing?

Don’t let paperwork or income complexity stand in your way. Jose Delgado will walk you through your options, one step at a time.

📞 Call today and schedule your FREE 30-minute consultation!
✅ No pressure. Just clear, personalized mortgage guidance.

FAQ Section

Q1: Can I get a mortgage if I just started my business?
Most lenders require at least 2 years of self-employment, but exceptions exist with strong credit and income.

Q2: Will I need to pay a higher interest rate?
Not necessarily. With strong documents and credit, self-employed borrowers may qualify for the same rates as salaried employees.

Q3: What if my declared income is low due to write-offs?
Jose can help you explore stated income or alternative lender options where gross income or business cash flow is considered. 

Q4: Can I refinance as a self-employed borrower?
Yes! With at least 20% equity and proper documentation, refinancing is very possible—even through alternative lenders.

Q5: Do I need a co-signer?
To access a Self-emloyed mortgage, if your income alone doesn’t support the mortgage, a co-signer can help. Jose will assess your file to see if it’s necessary.