How to Get a Mortgage When You’re Self-Employed

Own your own business? Learn how you can own a home too!

Statistics show that nearly 20% of all income earners in Canada are now self-employed. Today, lenders want proof of a stable income. Here are a few ways to ease the process and increase your chances of qualifying for a low mortgage rate.

Document Every Penny

You’ll need to document your income when preparing for a self-employed mortgage pre-approval. There are two basic ways do this – declared income and stated income. Declared income is provable via your personal income tax statements. Stated Income/Stated Asset (SISA) mortgages are made without any documentation or bank records to verify income levels.

Keep Your Credit in Check

When it comes to securing the best mortgage rate, a good credit history and solid credit score will always work in your favour.

Bump Up Your Bank Account

A big down payment and hefty bank account can help convince a lender that you’re less of a liability when it comes to credit.

Consider a Joint Mortgage

The best way to increase your chances of scoring the best mortgage rate is to take out a joint mortgage with someone who is employed full-time.

Talk to a Broker

Having a qualified Canadian mortgage rate broker on your side can make a huge difference for self-employed individuals.

Just because you’re self-employed doesn’t mean you need to give up your dream of becoming a homeowner. Contact today to learn how you can start climbing the real estate ladder. is near you. is expanding in order to serve you better! At, we are committed to providing you with the knowledge and understanding of financial products that are right for your particular situation. Click on the map markers to learn more about the mortgage brokerage office in your community. has access to best rate mortgages from coast to coast. Why pay more when you can have the lowest mortgage rate out there? So what are you waiting for - how can help you?