Getting a Mortgage When You're Self-Employed
By Tiffany Quaye · Last reviewed 2026-08-01
The short answer
Self-employed borrowers typically qualify on a two-year average of declared net income supported by tax returns and notices of assessment. When declared income is too low, options include add-backs, insurer business-for-self programs, or alternative lenders that assess bank deposits instead.
The paperwork, up front
- Two years of T1 Generals with the business schedules, plus notices of assessment.
- Proof taxes are paid and current.
- Business registration or incorporation documents.
- Six to twelve months of business bank statements for alternative programs.
- Corporate financial statements if you're incorporated.
The write-off paradox
Aggressive write-offs reduce tax and reduce mortgage qualification at the same time. If a purchase or refinance is on your two-year horizon, that's a conversation worth having with your accountant before you file, not after.
Questions people ask
Can I get a mortgage with one year of self-employment?
It's harder but possible, particularly with related prior experience, strong credit and a larger down payment. Expect a smaller lender list.
Do self-employed borrowers pay higher rates?
Not with prime lenders when income is fully documented. Alternative and stated-income programs do carry higher rates and sometimes fees.
Want this applied to your actual numbers?
Articles are general. Your file isn't. Bring your balances and your renewal date and I'll tell you what I'd do in your position.
Related reading
Not sure which option fits your situation?
Bring your numbers — mortgage balance, balances you're carrying, and what's stressing you out. I'll walk you through what's realistic, including when doing nothing is the better call.