Buying a Home When You’re Self-Employed? Here’s a Mortgage Option That Could Work

Self-Employed and Ready to Buy? This Mortgage Option Could Work for You

Being self-employed comes with a ton of freedom—you set your own hours, build something that’s yours, and call the shots. But when it comes to getting approved for a mortgage? Things can get complicated fast.

If you’re a freelancer, contractor, or small business owner, you’ve probably already discovered that traditional mortgage rules don’t always work in your favour. Maybe you’ve got great credit, healthy savings, and a business that’s thriving—but because your income isn’t the typical 9-to-5 with regular pay stubs, you’ve been told “no” or asked to jump through a million hoops just to qualify.

That’s where a high-ratio stated income mortgage can be a game-changer.

This mortgage program was made specifically for people like you—self-employed Canadians who manage their money well but don’t necessarily show high income on paper. With this option, lenders allow you to state what your business earns (gross), rather than relying solely on full financial statements or traditional proof of income.

Here’s what you’ll need to qualify:

• At least two years of self-employment

• A solid credit score (usually between 650–680, depending on the mortgage amount)

• Proof your business is active, like a business license, GST/HST registration, or recent tax filings

• A reasonable stated income based on your business type and industry norms

The best part? You can buy a home with as little as 10% down, and amortization options go up to 30 years. Even better, you can purchase a property with up to four units, as long as you’re planning to live in one of them. That opens the door to possibilities like house-hacking or starting your investment property journey while still securing a home for yourself.

This program is ideal if you’re ready to buy, but feel like standard mortgage rules just don’t reflect how you actually earn and manage money. Whether you’re running a graphic design business, contracting full-time, or operating your own salon, the income you bring in might be solid—but just not “traditional” enough for a regular mortgage.

And that’s okay. The mortgage world is changing, and programs like this are proof that lenders are starting to recognize that not everyone fits in the same box.

If this sounds like you, don’t write off homeownership just yet. You may have more options than you think—and I’d be happy to walk you through them. We’ll chat about what documents you’ll need, what kind of home might fit your budget, and how this mortgage option could help you get the keys to a place that’s truly yours.

Let’s connect. Because being self-employed shouldn’t stand in the way of buying a home.