British Columbia
Small business ownership and import/export income at high price points.
The short answer
In Richmond, a stated income mortgage allows self-employed borrowers — many of them small business owners, importers and independent professionals — to qualify on documented business income rather than the reduced net income shown on a T1.
Retail, hospitality and import businesses often carry heavy cost of goods. Lenders assess deposits and financial statements together to separate real margin from tax planning.
Where income or assets originate outside Canada, documentation and source-of-funds evidence carry as much weight as the income figure itself.
Detached values sit well above the insured threshold, so most purchases are uninsured with 20% or more down and stricter qualifying scrutiny.
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 Richmond 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 $645,456 in mortgage capacity on stated income, versus about $294,252 on the net figure alone.
Commission-only realtor, 4 years licensed
A Richmond 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 $678,678 in mortgage capacity on stated income, versus about $336,966 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Richmond 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 $647,829 in mortgage capacity on stated income, versus about $275,268 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.
Twelve months of business bank statements plus two years of financial statements. Invoices, leases and GST filings support consistency.
No — usually more. The difference is which documents establish income, not whether income is verified.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.