Self Employed Mortgage Guide | Abbotsford Mortgage Broker

Self-Employed Mortgage Guide

A guide for self-employed people seeking a mortgage. If you're ready for personalized advice, go ahead and click "get started" below.

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Work for yourself? We’ll help you find a mortgage that works for you.

While there are a lot of benefits of working for yourself, there are also a few challenges. One of them can be finding a great mortgage. Most lenders treat self-employed people as higher risks than those who work for employers, even though many self-employed individuals have strong stability and consistent incomes. In some cases, the self-employed are actually better able to weather financial storms, especially if their incomes are sourced from many clients, instead of contingent on a single employer.

But we digress. The bottom line is that self-employed people need to jump through a few more hoops than everyone else when it comes to finding a great mortgage product. Good news: Robinson Mortgage will take the leap with you.

Experience sourcing mortgages for the self-employed.

Based in B.C.’s Fraser Valley, Robinson Mortgage have extensive experience finding mortgage solutions for self-employed people across industries and job types, in Abbotsford, Chilliwack and the surrounding region. Consultants, contractors, small business owners, gig workers, retailers, professionals, health care heroes—the list could go on.

No matter what you do, we work hard to find you the best possible mortgage, with outstanding customer service all the way through. When you think about it, we work for you, too.

Self-Employed Mortgages FAQ

Can I qualify for more than my income statements suggest?

Maybe. If you reinvest much of your income in your company, rather than taking it out as income, there’s a good chance we can qualify you for a mortgage using the gross deposits of business income over the last year. Or we can look at your retained earnings within your corporation. So it’s possible that you can qualify for a mortgage using income amount that’s greater than the figures stated on your tax documents.
What “qualifying income” do lenders use to determine mortgage amounts?

For most lenders and banks, qualifying income is determined using line 150 in your income tax documents, averaged over the last two years. It can include dividend income, salary income from your T4s, and earnings from commissions.

For self-employed individuals applying for a mortgage, we can "gross up" your net income by 15 percent or use add-backs from your T1 General. If the above income is not enough for your mortgage needs, or if you’ve been in business for less than two years, we can attempt to use your earnings from as little as six months in business.
What financial documents will I need to provide?
Though it varies by lender, you’ll typically need to provide:
- T1 General tax forms and your Notice of Assessment for the past two years
- Your articles of incorporation, if your business is incorporated
- Your business registration documents and GST registration, if you’re a sole proprietor or unincorporated partnership
- Business bank account statements for the past six monthA personal financial statement, showing all your financial assets and debts
Will I be penalized if my business is seasonal, with income that varies through the year?

No. All that matters is the total income for the year, though you’ll need to show consistency of income from year to year. Your income across the last two years will be averaged to help determine how much mortgage you qualify for.

Hear from a few of our happy customers

Val Meyer

Matt was wonderful when we were buying and selling our house. As soon as we had a place we were considering, he would crunch the numbers for us and see if it was doable or not. Hes very quick in response time and easy to communicate with. This is our second time using him and we will continue to use his services in the future. Thanks Matt!

Nico Abais

As a first-time home buyer, my first resolve was to search for information online and sure enough I find bits of information all over the place. Then we were introduced to Matt. He will answer all your questions in a timely manner and guide you with the whole process and expectations. Matt will work his way to get you the best rate!

Tash Stobbart

Robinson Mortgage were very helpful in obtaining our first mortgage. We had difficulties dealing with banks because my husband is a contractor and has multiple T4’s and his income tax is complicated but Matt and his team made it easy. I would highly recommend to anyone looking for a mortgage and in fact I have sent friends his way.

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Got questions? We’re happy to help. Reach out anytime or schedule a time that works for you. And we’ll help you get closer to your dream home.

Meet Matt

Robinson Mortgage is owned and operated by Matt Robinson, a professional mortgage broker based in British Columbia’s beautiful Fraser Valley. Matt has helped countless people in Abbotsford, Chilliwack, Mission and beyond navigate the process of finding financing for their home. Whether you’re buying your first place, consolidating your mortgage, or getting ready for a future purchase, Matt is your man with a mortgage plan.
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