- Serving Alberta & Saskatchewan
- 1550 5 St SW Unit 300, Calgary, AB T2R 1K3
Self-Employed Mortgages in Alberta & Saskatchewan
A Mortgage That Works With Your Business Income
Being self-employed gives you flexibility and control over your career, but it can sometimes make getting a mortgage more complicated.
Business owners, incorporated professionals, contractors, freelancers, and other self-employed borrowers may have income that doesn’t fit neatly into a traditional employment structure. At Atlas Mortgage Group, we help self-employed Canadians across Alberta and Saskatchewan explore mortgage options based on their complete financial picture.
Whether you’re buying your first home, moving to a new property, refinancing, or purchasing an investment property, we’ll help you understand your financing options.
Why Self-Employed Mortgages Can Be Different
When you’re employed by a company, proving your income is often relatively straightforward. Self-employed income can be more complex.
Your income may come from:
- Business revenue
- Salary or dividends
- Contract work
- Commission
- Professional income
- Multiple businesses
- Seasonal or fluctuating income
- Other sources of self-employment income
Lenders may look at your business financials, tax returns, Notices of Assessment, bank statements, and other documentation when assessing your mortgage application.
The way your income is reported can also affect how a lender calculates your borrowing capacity.
That’s where having the right mortgage guidance can make a difference.
Who Can Benefit From a Self-Employed Mortgage?
Our mortgage brokers can work with a variety of self-employed borrowers, including:
- Small business owners
- Entrepreneurs
- Incorporated professionals
- Contractors
- Freelancers
- Consultants
- Commission-based workers
- Real estate professionals
- Tradespeople
- Business partners
- Borrowers with multiple sources of income
Every application is different, and lender requirements can vary depending on how your business and income are structured.
Self-Employed Mortgage Solutions in Calgary & Regina
Atlas Mortgage Group works with self-employed borrowers throughout Alberta and Saskatchewan.
If you’re searching for a self-employed mortgage in Calgary or a self-employed mortgage in Regina, our brokers can help you understand the documentation and qualification requirements that may apply to your situation.
We look at more than just one number on a tax return. We’ll help you understand how lenders may view your overall financial position and which mortgage options may be worth exploring.
How the Self-Employed Mortgage Process Works
01.
Tell Us About Your Business
We’ll start by understanding how your business operates, how long you’ve been self-employed, how you’re paid, and what you’re looking to accomplish.
02.
Review Your Income
We’ll look at the income documentation available to you and help determine how different lenders may assess your earnings.
03.
Understand Your Options
Based on your financial situation, we’ll explore mortgage options from our lender network and explain the requirements, rates, terms, and conditions that may apply.
04.
Prepare Your Application
We’ll help you understand what documentation is needed and prepare your application for the appropriate lender.
05.
Move Forward With Your Mortgage
Once your application is approved, we’ll continue to guide you through the financing process toward closing or the completion of your mortgage transaction.
What Documents Might You Need?
Documentation requirements vary depending on your business structure, income, lender, and mortgage application.
You may be asked for documents such as:
- Personal tax returns
- Notices of Assessment
- Business financial statements
- Proof of business ownership
- Bank statements
- Business registration documents
- Corporate documents
- Proof of income
- Information about existing debts and assets
Having your documents organised can help make the mortgage process more efficient.
What If Your Taxable Income Is Lower Than Your Actual Business Income?
Some self-employed business owners use legitimate business expenses and deductions that reduce their taxable income.
While this can be beneficial from a tax perspective, it may also affect how traditional lenders calculate your qualifying income.
Depending on your circumstances, there may be lenders with different approaches to self-employed income.
We’ll help you understand what options may be available based on your documentation and financial situation.
Can Self-Employed Borrowers Get Competitive Mortgage Rates?
Yes, self-employed borrowers may qualify for competitive mortgage rates, depending on their financial situation and the lender’s requirements.
The rate you receive can depend on factors such as your credit history, income, down payment, property, mortgage type, and how your income is verified.
At Atlas Mortgage Group, we compare available mortgage options and help you understand the complete product rather than focusing only on the advertised rate.
Why Choose Atlas Mortgage Group?
Experience With Complex Income
Self-employed income doesn't always fit a standard mortgage application. We help you understand how different lenders may assess your financial situation.
Access to Multiple Lenders
We work with a network of lenders, giving you more options than approaching a single financial institution.
Clear Guidance
We'll explain the documentation, qualification requirements, mortgage options, and potential costs so you can make an informed decision.
Financing for Different Goals
Whether you're buying a home, refinancing, or purchasing an investment property, we can help you explore mortgage solutions suited to your circumstances.
Your Business Shouldn't Stand in the Way of Your Homeownership Goals
Being self-employed shouldn’t mean navigating the mortgage process without guidance. If you’re self-employed and planning to buy, refinance, or invest in property, Atlas Mortgage Group can help you understand your financing options across Alberta and Saskatchewan.
Frequently Asked Questions
Can I get a mortgage if I'm self-employed?
Yes. Self-employed borrowers can qualify for mortgages, although the income verification process may be different from that of traditionally employed borrowers. Lenders will assess your income, credit, debts, down payment, and other factors according to their qualification guidelines.
How do lenders verify self-employed income?
Depending on your circumstances, lenders may review tax returns, Notices of Assessment, business financial statements, bank statements, corporate documents, and other proof of income. The documentation required can vary between lenders.
Can I qualify if my taxable income is lower because of business deductions?
Potentially. Business expenses and deductions can reduce taxable income, which may affect how a traditional lender calculates your qualifying income. Depending on your circumstances, other lending options may be available.
How long do I need to be self-employed to qualify for a mortgage?
The required history of self-employment can vary by lender and by the strength of your overall application. Factors such as your previous employment, industry experience, business stability, and income documentation may also be considered.
Can I get a mortgage if I'm incorporated?
Yes. Incorporated business owners and professionals can qualify for mortgages. However, the way your income is assessed may depend on your corporate structure, how you pay yourself, and the lender’s requirements.
Disclaimer: Mortgage rates, qualification requirements, and income verification methods vary by lender and individual circumstances. Self-employed mortgage approval is subject to lender guidelines and qualification. Speak with an Atlas Mortgage Group professional for advice based on your specific financial situation.