Locations
Stated income mortgages for self-employed borrowers in Toronto, Ottawa, Mississauga, Hamilton and across Ontario. Qualify on documented business income.
The short answer
In Ontario, a stated income mortgage lets self-employed borrowers qualify using business bank deposits and financial statements rather than the net taxable income on a T1. It is used across the GTA, Ottawa and southwestern Ontario by contractors, consultants, realtors, drivers and incorporated business owners.
In Toronto and the surrounding regions, qualifying on net taxable income instead of real business revenue can cut hundreds of thousands off the purchase price a lender will support.
Ontario has the widest range of self-employed programs in the country, but each lender treats add-backs, corporate income and rental offsets differently. Placement is what decides the rate.
Status certificates on condos and rental income on multi-unit properties both form part of the lender's decision alongside your business documentation.
Illustrative case studies
Incorporated renovation contractor, 6 years in business
A Ontario 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 $565,488 in mortgage capacity on stated income, versus about $257,796 on the net figure alone.
Commission-only realtor, 4 years licensed
A Ontario 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 $594,594 in mortgage capacity on stated income, versus about $295,218 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Ontario 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 $567,567 in mortgage capacity on stated income, versus about $241,164 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.
Each guide covers how stated income lending works in that market.
Not on the list? We work throughout the province — including rural and small-town purchases.
419 cities, towns and communities across Ontario. Each page explains how stated income lending works in that market.
Yes. Corporate financial statements, T2 filings and shareholder draws are all accepted forms of documentation; retained earnings can often be added back to qualifying income.
Yes. The income approach is independent of property type, though condos require the lender to review the status certificate and building details.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.