Mortgage solution
Self-employed mortgage
A self-employed file isn’t harder, it’s just documented another way. Lenders go by what your returns show, not by what the business collects.
Show your income clearly
Two years of notices of assessment, your financial statements, the business records. The two-year average is the starting point. And a year that went down pulls harder than a year that went up.
Pick the lender for the proof you have
Some lenders add back one-time expenses or part of the retained earnings. Others stick to declared net income, period. That gap moves the amount you qualify for a lot more than the rate does.
Don’t send a weak file
You don’t shop a file to every lender at once. Which lender gets it depends on the income proof you can produce, your credit and the property.
Documents to gather
What the lender will ask for.
- What you’re trying to do
- Income and documents
- Debts and credit
- Type of property
- When you need it
- Lender options
Frequently asked
I declare little to reduce tax, is that a problem?
For a mortgage, yes. Lenders use declared net income, so each dollar you optimize away on taxes shrinks what you can borrow. If a purchase is coming, talk to your accountant a year before. That does more than any rate negotiation.
Current rates
Today’s rates, with the fine print.
These rates are indicative. Yours depends on your file, the type of mortgage (insured or not) and the lender. And look at the penalty too, it matters as much as the number.
Have your file reviewed before you commit.
Have my file reviewedFinancing types
Pick the situation closest to yours.
Contact
Tell Mathieu about your project
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.
- Your request goes directly to Mathieu
- Across Quebec, in French and English
- No fee on most residential files