Ontario
Owner-operator and small-business income across a young, growing city.
The short answer
In Brampton, a stated income mortgage lets self-employed borrowers — heavily represented by transport owner-operators, trades and small business owners — qualify on documented business income rather than net taxable income.
Settlement statements, dispatch records and truck financing all feature in these files. Lenders experienced with the sector read them fluently.
Legal second units are common and documented long-term rent can offset a portion of the mortgage payment.
Multi-generational purchases often combine several incomes; documenting each source properly is what makes the file work.
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 Brampton 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 $519,792 in mortgage capacity on stated income, versus about $236,964 on the net figure alone.
Commission-only realtor, 4 years licensed
A Brampton 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 $546,546 in mortgage capacity on stated income, versus about $271,362 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Brampton 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 $521,703 in mortgage capacity on stated income, versus about $221,676 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, when the unit is legal and leased. Lenders apply a percentage of the rent rather than the full amount.
Two years of business history is the usual expectation, with six to twelve months of recent bank statements.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.