Self-Employed Borrowers

Yes. Self-employed borrowers can qualify through traditional or alternative programs depending on how income is reported and documented. The best approach depends on the business structure, time in business, credit, down payment and property.

Common documents include personal Notices of Assessment, T1 Generals, business financial statements, corporate tax returns, articles of incorporation, business bank statements and evidence that taxes are paid. The exact list depends on the lender and income method.

This is common. Some lenders can add back eligible expenses or use other reasonable methods to assess business income, while alternative lenders may use different documentation. A complete review is needed before deciding which route fits.

Many traditional programs prefer an established history, often around two years, but exceptions and alternative programs may exist for borrowers with shorter histories and strong supporting experience. The answer depends on the overall file.

Potentially. Lenders may review salary, dividends and, in some cases, retained corporate income or business cash flow under specific programs. The treatment varies widely, so corporate documents must be reviewed carefully.

No. Self-employed borrowers who fully meet standard lender guidelines may qualify for standard mortgage pricing. Higher rates or fees are more common when an alternative income-documentation program is required.