Getting a mortgage when you are self employed

Anita Groves • May 25, 2026

If you work for yourself, you already know the drill. You do everything you can to keep your taxable income low, and then it is time to get a mortgage and suddenly that same low number works against you. It is one of the most common frustrations I hear, and the good news is it is very workable.

Why self employed files are trickier

A regular employee hands over a couple of pay stubs and a letter, and the bank knows exactly what they earn. When you are self employed, your real earning power and the number on your tax return often do not match, because you write off expenses to lower your taxes. A bank that only looks at that one line may think you earn far less than you actually do.

How lenders can look at it differently

The lenders who understand self employed borrowers do not just glance at one line. They look at your business, your bank statements, the health of your company, and the fuller picture of what you bring in. Some have programs built specifically for business owners and contractors. The trick is knowing which lenders these are and how to present your file so your real income comes through.

What helps your case

A few things make a self employed file go more smoothly. Two years of business history is the usual sweet spot. Notices of assessment with no taxes owing help a lot. So does a reasonable down payment and clean credit. If your business banks separately from your personal accounts, that clarity helps too. None of these are dealbreakers if they are missing, but they all make the yes easier.

Do not rule yourself out

The biggest mistake I see self employed people make is assuming they cannot get a good mortgage and not even asking. You have more options than you think. Let me look at your situation and show you what is realistic.

Self employed and thinking about a mortgage? Let's find the right lender for how you actually earn.

Self-Employed Mortgages

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Anita Groves

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Need Funds Between Buying and Selling? Here’s How Deposit Loans & Bridge Financing Help

By Anita Groves • October 14, 2026

You’ve outgrown your current home. It no longer fits your life, so moving makes sense. And you’re not interested in juggling two properties. Selling first and buying something new feels like the right move. Ideally, you want possession of the new home before leaving the old one. That overlap makes moving easier, reduces stress, and gives you time to paint, renovate, or settle in before the boxes arrive. But there’s a common challenge. What if the down payment for your next home is tied up in the equity of the one you’re selling? That’s where bridge financing comes in. How bridge financing works Bridge financing temporarily unlocks equity from your current home once it has a firm sale . It bridges the gap between selling your existing property and purchasing your next one, allowing you to use that equity toward your down payment. What about competitive markets? In a hot market, a strong offer often means a larger deposit . If you don’t have that cash sitting in your account, but you do have equity, a deposit loan can help you compete with confidence. The non-negotiable requirement To qualify for bridge financing or a deposit loan, your current home must have a firm, unconditional sale . No firm sale = no bridge or deposit loan. Lenders need certainty to calculate available equity and manage risk. Bottom line A firm sale is the key that unlocks bridge financing and deposit loans. If you’re planning a move and want to understand how these options could work for you, let’s talk. I’m always happy to walk you through your options and help you plan your next step with confidence.

How to Qualify for a Mortgage After Bankruptcy in Canada

By Anita Groves • October 7, 2026

Financial setbacks happen. Bankruptcies and consumer proposals are more common than most people realize—and they don’t define your future. Going through one doesn’t mean homeownership is off the table forever. It simply means lenders want to see that you’ve taken control, learned from the past, and built a stronger financial foundation moving forward. What lenders look at after a bankruptcy or consumer proposal How long it’s been since your discharge Your discharge date matters. For lenders, this is your reset point. There’s no law that says you must wait a specific amount of time before applying for a mortgage, but the longer your track record after discharge, the stronger your application becomes. What matters most is how responsibly you’ve managed your finances since then. Your credit rebuild Re-establishing credit is critical. After discharge, most people start with a secured credit card and use it consistently and responsibly. To be considered fully re-established, lenders typically want to see: Two active trade lines At least two years of clean payment history Credit limits of around $2,500 on each No late or missed payments Your down payment or equity The more money you can put down—or the more equity you have when refinancing—the lower the risk for the lender. A stronger down payment often opens the door to better terms and more lender options. Your debt service ratios Lenders will also look closely at how much of your income goes toward housing and other debts. The stronger your income relative to your monthly obligations, the easier it is to qualify. Conventional vs. insured mortgage options To access the most competitive mortgage products, lenders typically want to see: At least two years plus one day since discharge Fully re-established credit Minimum down payment requirements met Mortgage insurance in place if your down payment is under 20% (through CMHC, Sagen, or Canada Guaranty) Total debt obligations generally not exceeding 44% of your gross income Alternative lending options Not every situation fits neatly into a bank’s box—and that’s where alternative lending can help. Independent mortgage professionals work with both traditional and alternative lenders, including those who specialize in complex financial situations. These lenders look at the full picture: equity, income stability, and your plan moving forward. While rates and terms may not be as competitive as prime lending, alternative financing can be an effective short-term solution—especially if you need a mortgage before your credit is fully rebuilt. Let’s talk about your next step Whether you’re planning ahead for the best possible mortgage—or need a solution sooner rather than later—there are options available. If you’d like help mapping out a clear path forward, reach out anytime. I’d be happy to review your situation and help you build a plan that gets you back into homeownership with confidence.