Simply put...

If you’re self-employed and are having trouble getting approved for a mortgage through one of the big banks or trust companies, you’re not alone.

Over the years, the traditional lenders have implemented a number of very strict lending rules and the banks have cracked down on mortgages for those people who are self-employed entrepreneurs with no reportable income.

This has become extremely frustrating to those applicants because they may have a real estate deal pending a financing condition and the banks are just saying “no” because of new tighter rules. This is where private lenders come in to help get you the mortgage you need.

How we can help:

  • Home renovation and construction projects

  • Individuals who can’t prove their income by conventional means

  • Credit management or recovery from bankruptcy

  • Income tax, property tax, bills or mortgages arrears

  • Unique & “non-conforming” properties

  • Stopping a power of sale

How stricter lending rules affect self-employed Canadians

Reduced amortization periods. Entrepreneurs are considered risky. Higher down payments of up to 30%

In addition to reducing the amortization period and raising the minimum down payment required to purchase a home, in 2014, the Canadian Mortgage and Housing Corporation (CMHC) discontinued mortgages for those who are self-employed without third-party validation. Before that, self-employed Canadians and contractors only had to state their income. Not anymore.

This squashed the home ownership dream for hundreds of thousands of Canadians. That’s because 2.76 million Canadians are self-employed; a whopping 15% of the country. And more and more Canadians step into the ranks of the self-employed every year.

Unfortunately, the big banks don’t really respect entrepreneurs and view them as risky. Because you are a self-employed entrepreneur, and might draw a smaller income for tax purposes, the bank thinks there’s a greater change that you’ll default on a mortgage. not affected by strict mortgage rules

Canada’s tighter lending rules only impact those who turn to Canada’s big banks. Non-traditional lenders that work with, are not bound by the same mortgage rules as the big banks. That’s a fact that’s becoming more evident to an increasingly larger percentage of the population.

A growing number of Canadians are turning to mortgage brokers like who work with private mortgage lenders for their no-income verification mortgages in the Greater Toronto Area. Upwards of 10% of all mortgages originate with non-traditional lenders. That share of the market has grown significantly since the 2008-2009 recession.

Mortgage brokers who deal with private lenders instead of banks, like, fill an important void left by the highly regulated banks. We give potential borrowers the chance to secure a self-employed mortgage or no-income verification mortgage.

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Getting a mortgage from

If you’re an entrepreneur and are being prevented from getting on the property ladder by the big banks, the independent, licensed mortgage agents at can help. Because is independent, they have access to hundreds of different lenders—many of whom specialize in lending to those who are self-employed and don’t have a long enough income track record, are single income earners, or simply may not qualify for the bank’s stricter and stricter terms.

The fact is, you can still get a self-employed no-income verification mortgage—it’s just going to take a little more effort. At, we can help you determine what kind of mortgage is best suited to your financial and lifestyle needs.

If your income doesn’t meet the unreasonable requirements set forth by the big banks, other lenders are willing to step in and help you secure a no-income verification mortgage. That’s where comes in. Lots of lenders look for different ways to help those who are self-employed increase their mortgage eligibility.

Why? The private lenders that works with understand that those who are self-employed look for ways to minimize their taxable income.

Some lenders do not ask for traditional proof of income, instead they rely on bank statements. In some cases, if you’re self-employed or your income fluctuates, a lender will tack, for example, 15% on to your reported income to increase the amount you can borrow, if you can show business deductions total more than that.

Since private lenders do not follow the same rules as the banks, they can also extend a mortgage of up to 95% of the purchase price to someone who is self-employed; all without the need of costly default insurance.

We offer a range of solutions for all your mortgage needs!

With our years of experience we’ve seen it all, so we’re used to fine-tuning our services to unique financial needs. We understand that for most people their home is the most valuable asset they will ever own, so it’s vitally important that they get the service they need.

At we are dedicated to 5 star customer service. Get in touch with us and a lending specialist will help set up an appointment for a free personal consultation. We will help you review your mortgage options and find the solution that fits your needs!

Frequently asked questions

  • How many years do you have to be self employed to get a mortgage?

    There is no specific amount of time you have to be self-employed in order to qualify for a self-employed mortgage. You will need to be able to prove your income for the past two years at least.

  • Is it hard to get a mortgage self employed?

    Yes, it can be more challenging to get a mortgage if you are self-employed as banks and other traditional lenders consider self-employed people higher-risk borrowers. However, it's definitely not impossible for people who are self-employed to qualify for a mortgage.

  • Are mortgage rates higher for self employed?

    Mortgage rates do tend to be higher for self-employed people. Having good credit and a large down payment may make your lender willing to offer you a lower interest rate on your mortgage.

  • How do I prove my income when self employed?

    There are a variety of ways you can prove your income if you are self-employed. They include: 1) Providing tax returns for the past few years (at least) 2) Providing statements that outline your business finances such as income and expenses 3) Contracts that demonstrate future income, and 4) Bank statements that show additional income going into your accounts.

  • How do they work out mortgages for self employed?

    The strict lending that traditional mortgage providers have to follow the rules do not bind non-traditional lenders, such as Canadalend. We work with private mortgage lenders who are willing to lend to self-employed people.

  • Can I get mortgage without proof of income?

    Yes, we can work with you to arrange a mortgage even if you can't prove your income by conventional means. We work with private mortgage lenders who are more flexible in their willingness to offer mortgages to people who can't provide proof of income.

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