Ontario
Logistics, trades and family business ownership across Peel.
The short answer
In Mississauga, a stated income mortgage qualifies self-employed borrowers on documented business deposits and financial statements rather than the net figure on a tax return. Logistics operators, trades and family-run businesses make up much of the demand.
Owner-operators write off fuel, lease and maintenance costs heavily. Those deductions belong in the tax return, not in the mortgage qualifying figure.
Files that combine business income with a co-applicant's employment income are common and generally straightforward to document.
From condo towers near the lake to detached homes further north, property type shapes fees, taxes and therefore ratios.
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 Mississauga 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 $525,504 in mortgage capacity on stated income, versus about $239,568 on the net figure alone.
Commission-only realtor, 4 years licensed
A Mississauga 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 $552,552 in mortgage capacity on stated income, versus about $274,344 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Mississauga 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 $527,436 in mortgage capacity on stated income, versus about $224,112 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. Each business is documented separately and the qualifying incomes are combined.
Not in full. A reasonable expense factor is deducted first to arrive at a 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.