You earn a good living, but your tax return does not show it. That is the number one problem the self-employed face with a bank.
Your accountant is doing exactly their job: minimizing your taxable income. The lender looks at that net income and concludes you cannot afford the property you have in mind. Both are right from where they sit. What is missing is someone who knows how to present your file to the right lender.
Who this is for
Self-employed workers, freelancers, consultants, owners of incorporated businesses, partners in a firm, construction contractors, restaurant owners, drivers, health professionals in private practice, artists. If a meaningful share of your income does not come from a T4, this page is for you.
How we build the file
We add back what the return takes out. Depreciation, non-recurring expenses, a portion of business expenses: several lenders will add certain amounts back to the income used in their calculation. It is a matter of knowing which ones, with which lender, and how to document it.
We look at the business, not just the tax form. If you are incorporated, retained earnings and the financial health of the company can support your application.
We target the right lenders. Some chartered banks are rigid with business income. Other lenders, and the alternative market, have programs built for this profile. Sending your file to the wrong place is a decline on your credit report for nothing.
We plan ahead when there is time. If your purchase is twelve to twenty-four months out, a conversation with your accountant now can change what you qualify for. Declaring a little more income for two years costs tax, but it can unlock far better financing.
What you will be asked for
Complete tax returns and notices of assessment for the last two years, financial statements if incorporated, proof of registration, and confirmation that your taxes are up to date. An outstanding balance with Revenu Québec or the CRA will stop a file — that is the first thing to clear.
Less than two years of history? Not a dealbreaker, but more demanding. If you work in the same field you did before going out on your own, that counts. We look at what is possible today and what becomes possible in twelve months.
Why me
I spent more than ten years in operations management before mortgage brokering. Reading financial statements, understanding a margin, and telling a real expense from an accounting entry has been my daily work for a long time. A self-employed file does not intimidate me — it is a file to be structured.