Mortgage For Self-Employed


More than 15% of Canadian work as self-employed or commission-based income. For self-employed or commission-based income, there are special mortgage programs in different lenders. There are 2 options to get the mortgage for a self-employed borrower:

  1. From A-Type Lender: lower rates, but higher requirements
  2. From B-Type Lender: higher rates, but lower requirements


Please Note:

If a self-employed borrower can provide a verified income, like Notice Of Assessment from Canada Revenue Agency (CRA), then he/she will be treated as normal mortgage borrowers (A-Class Borrower) and get the lowest mortgage from any lender.

The following comparison is only for those self-employed borrowers whose incomes are difficult to verify.

ItemsA-Type LendersB-Type Lenders
Down Paymentfrom 35%from 5%
Income Verificationaccept reasonable stated incomeno verification
Credit Requiredgood creditdoesn't matter


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