British Columbia
Construction, hospitality and agriculture income in the Okanagan.
The short answer
In Kelowna, a stated income mortgage lets self-employed borrowers qualify using business bank deposits and financial statements instead of net taxable income. Construction, winery and agriculture operations, hospitality businesses and remote consultants all fit the approach.
Builders and subtrades run heavy equipment and material write-offs. Those deductions reduce tax owing without reducing real capacity to service a mortgage.
Vineyard, orchard and acreage purchases narrow the lender list. The property type needs to be matched to a lender comfortable with land value and outbuildings.
Regulation has tightened, and most lenders will not count short-term rental revenue toward qualifying. Long-term leases are the reliable route.
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 Kelowna 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 $536,928 in mortgage capacity on stated income, versus about $244,776 on the net figure alone.
Commission-only realtor, 4 years licensed
A Kelowna 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 $564,564 in mortgage capacity on stated income, versus about $280,308 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Kelowna 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 $538,902 in mortgage capacity on stated income, versus about $228,984 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.
Generally no. Most lenders require a long-term lease before rental income is used for qualifying purposes.
Yes, with the right lender. Acreages usually cap the value attributed to land and outbuildings, which affects the maximum loan.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.