Alberta
Service, trades and agriculture businesses in central Alberta.
The short answer
In Red Deer, a stated income mortgage allows self-employed borrowers to qualify using documented business income rather than net income after deductions. Service businesses, trades and agriculture-linked operations are the typical profiles.
Revenue often tracks oilfield and agricultural activity. A twelve-month review reflects the cycle rather than a single strong or weak quarter.
Properties outside the city require lenders comfortable with rural servicing, access and land value.
Truck and equipment payments count in the total debt-service ratio and often matter more than the income figure itself.
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 Red Deer 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 $582,624 in mortgage capacity on stated income, versus about $265,608 on the net figure alone.
Commission-only realtor, 4 years licensed
A Red Deer 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 $612,612 in mortgage capacity on stated income, versus about $304,164 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Red Deer 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 $584,766 in mortgage capacity on stated income, versus about $248,472 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.
Somewhat. Major lenders still fund Red Deer, but rural and acreage properties narrow the list.
Yes. T1 Generals with statements of business activities plus business bank statements are the standard package for sole proprietors.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.