Ontario mortgage help
Self-employed mortgages in Ontario
Lenders may assess self-employed income differently. The useful starting point is a consistent package showing personal income, business performance, taxes, debts, and the source of the down payment.
What to do first
Gather recent personal tax returns and Notices of Assessment.
Prepare current business financial statements and business bank statements where available.
Separate gross business revenue from income available for personal mortgage payments.
Confirm which documents a prospective lender requires before submitting an application.
Important considerations
Documentation variesRequired history and documents differ by lender, business structure, industry, and mortgage type.
Taxes and stated income are different conceptsA lender may analyze income using tax documents, business cash flow, add-backs, or another documented method permitted by its policy.
Avoid changing the recordAll application information and documents must be accurate, complete, and capable of verification.