Alberta
Small business and trades ownership at very accessible price points.
The short answer
In Medicine Hat, a stated income mortgage qualifies self-employed borrowers using documented business income rather than net taxable income, which suits the city's small business owners, trades and independent service providers.
With modest purchase prices, even a partial recognition of real business income usually clears the debt-service test comfortably.
A lengthy operating history with steady deposits is one of the strongest signals a lender can see.
Purchases outside the city need lenders comfortable with acreage servicing and access.
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 Medicine Hat 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 $616,896 in mortgage capacity on stated income, versus about $281,232 on the net figure alone.
Commission-only realtor, 4 years licensed
A Medicine Hat 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 $648,648 in mortgage capacity on stated income, versus about $322,056 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Medicine Hat 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 $619,164 in mortgage capacity on stated income, versus about $263,088 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.
Not by itself. Rate is driven by credit, down payment and lender program rather than city size.
Typically days once documents are assembled; gathering complete business records is usually the longest step.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.