Alberta
Oilfield service, trucking and rotational contract income.
The short answer
In Grande Prairie, a stated income mortgage qualifies self-employed borrowers on documented business deposits and financial statements rather than net income. Oilfield service companies, hauling operators and rotational contractors are the dominant profiles.
Income arrives in bursts tied to project schedules. Annualised deposits present that accurately where a short window would not.
Financed trucks and equipment reduce room in the debt-service calculation; restructuring before applying often increases capacity.
Lenders look for continuity across a downturn, which a two-year documentation history demonstrates well.
Documented revenue is totalled, a reasonable industry expense factor is deducted, and the resulting qualifying income is tested against debt-service limits at the stress test rate. See the full step-by-step breakdown for the numbers.
Illustrative case studies
Incorporated renovation contractor, 6 years in business
A Grande Prairie buyer with strong credit, a 20% down payment and two years of filed returns showing heavy but legitimate write-offs.
How the income is calculated
Roughly $651,168 in mortgage capacity on stated income, versus about $296,856 on the net figure alone.
Commission-only realtor, 4 years licensed
A Grande Prairie buyer with strong credit, a 20% down payment and two years of filed returns showing heavy but legitimate write-offs.
How the income is calculated
Roughly $684,684 in mortgage capacity on stated income, versus about $339,948 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Grande Prairie buyer with strong credit, a 20% down payment and two years of filed returns showing heavy but legitimate write-offs.
How the income is calculated
Roughly $653,562 in mortgage capacity on stated income, versus about $277,704 on the net figure alone.
For demonstration purposes only. These case studies are hypothetical examples created to show how stated income calculations work. They are not real clients, not guarantees, and not an offer of credit. Actual qualifying income, rates and approvals depend on the lender, your documentation, credit profile, down payment and the property.
Yes, when two years of records show the business continued through slower periods. Consistency over time matters more than a single peak year.
No. A co-signer is one way to strengthen a marginal file, not a requirement of stated income programs.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.