Ontario
Commuter market with trades, construction and seasonal tourism income.
The short answer
In Barrie, a stated income mortgage lets self-employed borrowers qualify on documented business income instead of the net taxable figure on a tax return. Trades, construction, landscaping and tourism-linked operators are common applicants.
Landscaping, marine and tourism work concentrates in the warm months, and a twelve-month deposit review reflects that fairly.
Steady GTA-driven demand keeps appraisals predictable, so income documentation is usually the decisive factor.
Cottage-style and waterfront purchases have their own lender rules on access, winterisation and use.
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 Barrie 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 $588,336 in mortgage capacity on stated income, versus about $268,212 on the net figure alone.
Commission-only realtor, 4 years licensed
A Barrie 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 $618,618 in mortgage capacity on stated income, versus about $307,146 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Barrie 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 $590,499 in mortgage capacity on stated income, versus about $250,908 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.
Yes with the right lender, though year-round access and winterisation affect eligibility and down payment.
By annualising twelve months of documented deposits rather than judging peak or off-season months in isolation.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.