Self-Employed Mortgage
in the Comox Valley, BC
Your tax return tells one story. Your real income tells another. We know how to present both.
Running your own business on Vancouver Island is one of the best decisions you can make. But when you go to apply for a mortgage, those same write-offs that reduce your tax bill can make it look like you earn a fraction of what you actually bring in.
I have been arranging self-employed mortgages in the Comox Valley since 2008. I know which lenders look at your actual earnings, not just what you declare, and I know how to present your file in a way that gives you the best possible outcome.
If your bank has said no because of your self-employment income, that is not the final answer. It means you need a different lender, and that is exactly what I can help you find.
Options for self-employed canadians
Self-Employed? Here's How We Get You a Mortgage.
Being self-employed shouldn't stand between you and homeownership, but it does change how lenders look at your income. Business owners, contractors, and freelancers often write off expenses to reduce their tax bill, which is smart for tax season but can make your income look smaller on paper than it really is. That gap between what you actually earn and what a lender sees is exactly where we come in.
Self-Employed Situations We See on Vancouver Island
The Comox Valley and broader Vancouver Island have a strong self-employed community. Trades, contractors, small business owners, consultants, tourism operators, agricultural producers, and remote workers all face the same challenge when applying for a mortgage. Each income structure is a little different and each one needs a broker who knows which lender to approach.
If you have been in business for at least two years and have documentation to support your income, there is almost always a path forward. Even if your situation is more complex, we will give you an honest assessment of your options.
FAQs
Common questions about
self employed mortgages
My bank said my self-employment income does not qualify. Is that really the final answer?
No. Banks use a narrow income assessment method that often significantly understates what self-employed borrowers actually earn. We work with lenders who use gross revenue, bank deposits, or stated income rather than relying exclusively on your declared net income. A bank decline is a starting point for a different conversation, not the end of the road.
How long do I need to have been self-employed to qualify?
Most lenders want a minimum of two years of self-employment history supported by two years of tax returns and Notices of Assessment. Some alternative lenders will work with less history depending on your industry and income documentation.
Will my business write-offs hurt my mortgage application?
At a conventional bank, yes. At lenders who use gross revenue or bank deposit income assessment, much less so. This is one of the most important reasons to work with a broker who has access to multiple lenders rather than going directly to your bank.
Does it cost more to use an alternative lender as a self-employed borrower?
Sometimes slightly. Alternative income programs may carry rates a little higher than the best conventional rates and typically require 20% down. For most self-employed clients the tradeoff is worthwhile, especially when the goal is to build equity now and transition to conventional financing as income documentation improves.
Do you help self-employed borrowers across all of Vancouver Island?
Yes. We work with self-employed clients throughout the Comox Valley, across Vancouver Island, and throughout BC. Most of our work is done by phone and video call so distance is not a barrier.
Resources to help business owners
with mortgage financing
Alternative Lending Provides You With Options
If you’re a business owner, you most likely have write-offs that make sense for tax planning reasons but don’t do much for your verifiable income. Learn more about how alternative lenders can offer competitive mortgage products for you.
An Overview of the Home Buying Process
If you’re planning to buy either your first home or your next home, let’s assess your creditworthiness, take a look at your income, plan for a down payment, and nail down exactly how much you can afford to borrow.
GDS/TDS Ratios Explained
One of the major qualifiers lenders look at when considering your application for mortgage financing is your debt service ratios. Learn more about how your gross debt service ratios (GDS) and total debt service ratios (TDS) impact your mortgage qualification.
Fixed-Rate or Variable-Rate Mortgage
If you’re weighing the options between a fixed and variable rate mortgage, consider the penalty incurred should you need to break the mortgage. Learn more here.
Learn more about how credit impacts a home purchase
Credit and Mortgage Financing
Credit is the ability of a customer to obtain goods or services before payment, based on the trust that you will make payments in the future. When you borrow money to buy a property, you’ll be required to prove that you have a good history of managing your credit.
How to Handle Missed Payments
If you’ve missed a payment on your credit card or line of credit and you’re wondering how to handle things and if this will impact your creditworthiness down the road, here’s the plan for you to follow.
