Alberta
Agriculture, food processing and independent trades in the south.
The short answer
In Lethbridge, a stated income mortgage qualifies self-employed borrowers on documented business revenue instead of the net taxable income shown on a tax return, which suits the region's agriculture, processing and trades operators.
Crop and livestock income arrives in concentrated periods. Lenders assess an annual picture rather than monthly consistency.
Purchase prices well below the provincial average mean the qualifying-income gap is often the only barrier between renting and owning.
Many households combine one T4 income with one business income. Blended files are straightforward when both sides are documented.
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 Lethbridge 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 $576,912 in mortgage capacity on stated income, versus about $263,004 on the net figure alone.
Commission-only realtor, 4 years licensed
A Lethbridge 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 $606,606 in mortgage capacity on stated income, versus about $301,182 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Lethbridge 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 $579,033 in mortgage capacity on stated income, versus about $246,036 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.
Through financial statements and deposits over a full production cycle, with attention to whether the property itself is agricultural.
Yes. Lenders require notices of assessment showing no unpaid balance before funding.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.