Self-Employed Mortgage in Burnaby, BC
Being your own boss shouldn't make getting a mortgage harder. I specialize in this.
If you're self-employed in Burnaby, Vancouver, or anywhere in BC, getting a mortgage can feel like the rules are stacked against you. You've built a successful business, but lenders want verifiable income — and your T1 General likely doesn't tell the full story of what you actually earn. Legitimate write-offs and business expenses that make complete sense for tax purposes work against you when a bank is calculating your qualifying income.
I specialize in self-employed mortgages. I have access to traditional lenders with flexible programs for business owners, as well as alternative lenders who assess your application completely differently — using gross revenue, bank statements, or stated income rather than net income alone.
Many small business owners have a hard time proving their income when applying for mortgage financing.
Let me guide you through the process.
Get started right away
The best place to start is to connect with me directly. The mortgage process is personal. My commitment is to listen to all your needs, assess your financial situation, and provide you with a clear plan forward.
Get a clear plan
Sorting through all the different mortgage lenders, rates, terms, and features can be overwhelming, especially if you're self-employed. Let's put together a plan to get you the best mortgage available.
I'll handle the details
When it comes time to arranging your mortgage, trust that I'll make it happen. I specialize in helping business owners secure mortgage financing. I've got you covered.
What Documents You'll Typically Need
For a verified self-employed application:
- 2 years of T1 General tax returns and Notices of Assessment from CRA
- Business registration or articles of incorporation (confirming 2+ years self-employed)
- 3–6 months of personal and business bank statements
- Accountant-prepared financial statements if incorporated
For an alternative lending application, you may only need:
- 12 months of business bank statements showing consistent deposits
- A signed declaration of income
- Evidence of business operation (website, business licence, client contracts)
How Lenders Assess Self-Employed Income
Self-employed borrowers typically qualify through one of two approaches:
- Traditional (Verified Income): Uses your T1 General tax returns and Notices of Assessment from CRA. Two years of consistent declared income is typically required. Best for business owners whose declared income is strong enough to qualify without adjustments.
- Alternative (Stated/Bank Statement Income): Uses gross revenue, 12 months of bank deposits, or a stated income declaration. Typically requires a stronger down payment or equity position. Best for business owners with significant write-offs reducing their declared income.
Don't let self-employment keep you from getting a great mortgage
I'll outline financing options and secure the best mortgage for you.
Resources to help business owners with mortgage financing
Alternative Lending Provides You With Options
If you’re a business owner, you most likely have write-offs that make sense for tax planning reasons but don’t do much for your verifiable income. Learn more about how alternative lenders can offer competitive mortgage products for you.
An Overview of the Home Buying Process
If you’re planning to buy either your first home or your next home, let’s assess your creditworthiness, take a look at your income, plan for a down payment, and nail down exactly how much you can afford to borrow.
GDS/TDS Ratios Explained
One of the major qualifiers lenders look at when considering your application for mortgage financing is your debt service ratios. Learn more about how your gross debt service ratios (GDS) and total debt service ratios (TDS) impact your mortgage qualification.
Fixed-Rate or Variable-Rate Mortgage
If you’re weighing the options between a fixed and variable rate mortgage, consider the penalty incurred should you need to break the mortgage. Learn more here.
Learn more about how credit impacts a home purchase
Credit and Mortgage Financing
Credit is the ability of a customer to obtain goods or services before payment, based on the trust that you will make payments in the future. When you borrow money to buy a property, you’ll be required to prove that you have a good history of managing your credit.
How to Handle Missed Payments
If you’ve missed a payment on your credit card or line of credit and you’re wondering how to handle things and if this will impact your creditworthiness down the road, here’s the plan for you to follow.
Frequently Asked Questions
Can I get a mortgage if I'm self-employed in Canada?
Yes, absolutely. Being self-employed does not disqualify you from getting a mortgage. What it does mean is that lender selection matters much more for you than it does for a salaried employee. I specialize in self-employed mortgages and I know which lenders assess your application most favourably — whether that's through verified income, bank statements, or a stated income program.
Do lenders use my gross or net income?
Traditional lenders use your net income as declared on your T1 General — which is often significantly reduced by legitimate business write-offs. Alternative lenders may use gross revenue, bank deposits, or a stated figure. This is exactly why lender selection is so critical for self-employed borrowers. I'll compare programs across multiple lenders to find the one that gives you the most credit for what you actually earn.
How long do I need to be self-employed to qualify?
Most traditional lenders require at least 2 years of self-employment history supported by two years of tax returns and NOAs. Some alternative lenders may work with as little as 12 months of history if you have strong bank statement evidence. If you're newly self-employed, reach out and I'll give you an honest assessment of your options and a clear plan for where to go from here.
What if my income varies significantly year to year?
Variable income is common for self-employed borrowers and most lenders are aware of it. Traditional lenders will typically average your last two years of income. Alternative lenders may look at your most recent 12 months of deposits. In some cases, a strong recent year can outweigh a weaker prior year depending on the lender. I'll review your specific income pattern and identify which approach gives you the strongest application.
Do I need a bigger down payment because I'm self-employed?
Not necessarily with a traditional verified income application. For alternative or stated income programs, a down payment of 20% or more is typically required since these mortgages are uninsured. The right down payment strategy depends on which lender program best fits your income profile — I'll work through all the options with you.
