Self-Employed Mortgages in Ottawa: We Get It Approved
Banks see your tax return. We see the full picture.
Being self-employed shouldn't stop you from owning a home. Jessy Gill specializes in business-for-self mortgages and works with lenders who know how to read self-employment income properly.
The reality for self-employed Canadians
The Problem
Why Banks Make It Hard for Self-Employed Borrowers
What Banks See
- ●Your net income after all write-offs, often much lower than what you actually earn
- ●Inconsistent year-over-year income as a red flag, not a normal business pattern
- ●Self-employment as inherently riskier than T4 employment
- ●One set of products at one rate, regardless of your situation
What Jessy Does
- ●Looks at gross revenue, add-backs, retained earnings, and your full financial picture
- ●Matches your income structure to the lender best suited to understand it
- ●Explains your business model to underwriters in language they respond to
- ●Shops 45+ lenders including specialists in business-for-self mortgages
The Broker Advantage
“Banks see a tax return. Jessy sees a business — and knows exactly which lender will too.”
The difference between a declined application and an approval is often the presentation of your income and the choice of lender. Jessy has navigated hundreds of self-employed files across every income structure Ottawa has to offer.
The Process
How Jessy Gets Self-Employed Clients Approved
Review Your Full Picture
Jessy starts by looking at your complete financial situation: gross business revenue, personal draws, retained earnings, and assets, not just your line 15000.
Match You to the Right Lender
Some lenders use stated income (based on gross revenue). Others use add-back programs that factor in CCA and business deductions. Jessy knows which lenders work best for which income types.
Prepare Your Application Strategically
The presentation of your income matters as much as the income itself. Jessy structures your file to tell the right story to the right lender, maximizing your qualifying amount.
Shop 45+ Lenders
Unlike a bank that sees one product, Jessy shops major banks, credit unions, monoline lenders, and business-for-self specialists to find the best rate and terms for your file.
Document Checklist
What You'll Need
Jessy provides a custom checklist based on your specific situation. Here's what most self-employed borrowers need to have ready:
- ✓2 years Notice of Assessment (NOA)
- ✓2 years T1 General tax returns
- ✓Business registration or incorporation documents
- ✓6 months business bank statements
- ~Accountant letter confirming income (if applicable)(if applicable)
- ~Financial statements for incorporated businesses(if applicable)
- ✓Proof of 2+ years self-employment history
- ✓Personal bank statements (3 months)
Who Jessy Works With
Self-Employed Client Types
Whether you file as a sole proprietor, partnership, or corporation, Jessy has worked with every type of self-employment income structure Ottawa has to offer.
Already been turned down?That's not the end of the story. Jessy regularly helps clients who were declined by one or more banks find approval through the right lender for their income type.
FAQ
Common Questions
- Can I get a mortgage if I just started my business?
- Most lenders want to see at least 2 years of self-employment history, ideally with filed tax returns for both years. If you're in your first or second year, you may still have options, particularly if you have a strong down payment, prior T4 employment history in the same industry, or sufficient assets. Jessy will assess your specific situation and identify which lenders may work with you.
- Do my write-offs hurt my mortgage application?
- Yes, and this is one of the most common frustrations for self-employed Canadians. Every legitimate expense you deduct reduces your stated net income, which reduces what you can qualify for on a traditional mortgage. The good news is that certain lenders offer 'add-back' programs that allow deductions like CCA (depreciation) and business-use portions of expenses to be added back when calculating qualifying income. Jessy knows exactly which programs to use for your situation.
- What if I have irregular income?
- Irregular income is common with self-employment. A great year followed by a slower year is completely normal. Lenders typically average your income over 2 years. If your income has been growing, Jessy can sometimes advocate for a higher qualifying figure. The key is proper documentation and working with lenders who understand business income cycles.
Let's Get Your Self-Employed Mortgage Approved
Book a free consultation with Jessy. She'll review your income structure, identify the best lenders, and give you an honest assessment. No paperwork required to start.
Virtual and in-person appointments available across Ottawa.