Ontario
Tech contractors, startup founders and independent consultants.
The short answer
In Kitchener-Waterloo, a stated income mortgage qualifies self-employed borrowers on documented business revenue rather than net taxable income — a fit for the region's tech contractors, founders and consultants who invoice rather than draw a salary.
Early-stage founders often pay themselves minimally. Corporate revenue and consistent client billings tell a truer story than the personal return.
Stock or option-based compensation is generally excluded from qualifying income, which raises the importance of documented cash revenue.
Competitive offers reward a fully documented approval rather than a soft pre-qualification.
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 Kitchener-Waterloo 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 $531,216 in mortgage capacity on stated income, versus about $242,172 on the net figure alone.
Commission-only realtor, 4 years licensed
A Kitchener-Waterloo 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 $558,558 in mortgage capacity on stated income, versus about $277,326 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Kitchener-Waterloo 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 $533,169 in mortgage capacity on stated income, versus about $226,548 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.
Documented corporate revenue, adjusted for expenses, plus dividends and draws where supported by financial statements.
Rarely. Most lenders exclude unvested or non-cash compensation from qualifying income.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.