Ontario
Government-adjacent consultants and contract professionals.
The short answer
In Ottawa, a stated income mortgage lets self-employed borrowers qualify on documented business revenue rather than net income after deductions. Independent consultants, IT contractors and professional corporations serving government and tech are the most common profiles.
Many Ottawa borrowers invoice through a corporation on renewable contracts. Continuity of billing history is what lenders assess.
A steadier market than the GTA means appraisals are rarely the sticking point; qualifying income usually is.
Buying across the river in Quebec puts the file under different rules, so confirm the province before assuming the same program applies.
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 Ottawa 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 $514,080 in mortgage capacity on stated income, versus about $234,360 on the net figure alone.
Commission-only realtor, 4 years licensed
A Ottawa 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 $540,540 in mortgage capacity on stated income, versus about $268,380 on the net figure alone.
Sole-proprietor IT consultant on long-term contracts
A Ottawa 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 $515,970 in mortgage capacity on stated income, versus about $219,240 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.
Two years of corporate financial statements, T2 filings, business bank statements and current contracts or invoices.
If you invoice rather than receive a T4, lenders treat it as self-employed income, even when the client is a single large organisation.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.