Income interpretation
Net income, gross revenue, add-backs, dividends, salary, and retained earnings can lead to different lender outcomes.
Self-employed mortgages
Your tax return is not the whole story.
Self-employed buyers often need a lender that understands business income, write-offs, retained earnings, contracts, bank deposits, and the real cash flow behind the file.
What to clarify first
2 years
Many lenders want a two-year income picture, but options vary.
T1/T2
Personal and corporate tax documents can both matter.
Cash flow
Bank statements, contracts, and invoices may help explain the business.
Structure
Sole proprietor, corporation, partnership, and contractor files are reviewed differently.
Where Sean helps
A good mortgage plan answers the practical questions early.
Document strategy
A clean document package helps the lender understand the business instead of guessing.
Down payment planning
Stronger down payment, credit, and liquidity can open more lender options.
Business write-offs
Tax efficiency can lower reported income, so we compare how each lender reads the file.
Alt-A options
Alternative lenders can help when bank guidelines are too rigid, but pricing and fees must be compared carefully.
Purchase timing
Large deposits, new contracts, recent incorporation, or changing income should be explained before submitting.
Simple process
What happens next.
Send the basics once. Sean reviews the structure, confirms the lender fit, and tells you what documents are likely needed.
Start online1
Identify business structure and income sources.
2
Review tax returns, notices of assessment, and business financials.
3
Check credit, down payment, property type, and lender options.
4
Package the story clearly before submission.
5
Compare bank, credit union, monoline, and alternative options where appropriate.
Documents usually needed
Be ready before the lender asks.
The exact list depends on lender, income type, property, and purpose, but these are common starting points.
T1 generals
Notices of assessment
Business financial statements
Articles of incorporation if applicable
Business bank statements
Invoices or contracts
HST/GST returns if applicable
Down payment proof
Talk to Sean
Bring the numbers. I'll help turn them into a plan.
Send the basics or call directly. I'll help compare lender options, structure, affordability, and timing with plain-English advice.
Call or text514-746-9496
Emailsean@thebrokerguy.ca
Brokerage8Twelve Mortgage Corp 13072
Service areasBarrhaven, Nepean, Kanata, Stittsville, Ottawa West, and Ontario
Office45 Sheppard Ave. E, Suite 211, Toronto, ON M2N 5W9