Self Employed Mortgages in Ontario & Canada
A Self Employed Mortgage Without the Income Hoops
If you are self-employed and your bank declined you because your income does not fit their box, you still have options as long as you own a home. A self employed mortgage from Turnedaway.ca is approved on your equity, not your tax returns or Notice of Assessment, so write-offs, commission income, and a young corporation do not have to stand in your way. Learn more about home equity loans, second mortgages, and debt consolidation.
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Approvals in as fast as 24 hours · No income verification required · Financing from $25,000
Yes, you can get a self employed mortgage in Canada if you own a home with equity. Equity-based lenders approve based on the value in your property rather than your declared income, which is why financing is often available to business owners, contractors, and commission earners whose tax returns do not tell the whole story. Your home, not your Notice of Assessment, does the qualifying.
24 hrs
Typical approval window through Turnedaway.ca, versus weeks of paperwork at a bank.
80%
Maximum loan-to-value we arrange, leaving real equity protected as a buffer.
$0
Income verification required. No tax returns or Notice of Assessment needed to apply.
$25K
Financing available from, based on the equity you have built in your home.
For how home equity borrowing works, see the Financial Consumer Agency of Canada.
Why Banks Decline Self-Employed Homeowners
Banks want to see steady, simple income: two years of tax returns showing consistent, high net income. The reality of self-employment rarely looks like that. You write off legitimate business expenses, which lowers your declared income. Your earnings swing with the season or with commission. Your corporation is young and the income has not seasoned. Each of those is normal, smart business, and each one can trigger a bank decline, even when you have years of equity in your home and a perfect payment history.
Equity-based lending looks at what the banks ignore. What matters most is the value in your home, not the bottom line on your tax return. That gives self-employed homeowners a path the banks simply do not offer, often without income verification at all. For guidance on the documents lenders may consider, the Financial Consumer Agency of Canada is a helpful resource.
At Turnedaway.ca, we have helped thousands of clients the banks turned away by working with a wide network of alternative and private lenders. That is what allows us to arrange a self employed mortgage for business owners and contractors other lenders have already declined.
How a Self Employed Mortgage Works
Getting approved through Turnedaway.ca is straightforward, even without traditional income proof. Here is what the process looks like from your first application through to funding.
Tell Us About Your Situation
Apply securely at apply.turnedaway.ca. Whether you are incorporated, a sole proprietor, a contractor, or commission-based, we start with your home and your goals, not a stack of tax returns.
We Assess Your Equity
We review your home's value and existing mortgage to see how much room there is, staying within our 80% loan-to-value cap. Your declared income is not the deciding factor. Estimate your room with our home equity calculator.
We Match You to a Lender
We place you with a lender who understands self-employment and funds based on equity, not your Notice of Assessment. An independent appraisal confirms your home's value.
Review Your Full Cost Disclosure
Every cost is laid out in a written Cost of Credit Disclosure before you sign anything, so there are no surprises. Your lawyer completes the legal work and registers the loan.
Close and Move Forward
Access your funds, consolidate debt or invest in your business, and follow the exit plan we build to return to bank rates once your income has seasoned. Most files close within 5 to 10 business days.
Who Qualifies for a Self Employed Mortgage?
Approval is based primarily on the equity you have built up, not your declared income or how long you have been in business. Not sure how much equity you have? Use our home equity loan calculator to get an estimate.
Incorporated Business Owners
Writing off expenses to lower your taxable income will not count against you. We look at your equity, not your declared net income.
Sole Proprietors and Contractors
Self-employment income that does not fit a bank's template is no obstacle when approval is based on equity.
Commission-Based Earners
Income that swings month to month will not disqualify you the way it does at a traditional lender.
Newly Self-Employed
No two-year track record yet? Equity-based lending does not require your income to have seasoned.
At Least 20% Equity in Your Home
Because all of our lending stays within an 80% loan-to-value cap, you need meaningful equity in the property.
Equity can clear CRA debts and liens that often come with self-employment.
or call 1-855-668-3074
How Much Can You Borrow?
The amount depends on your property's current value and the balance still owing on your mortgage. Turnedaway.ca does not arrange deals above 80% LTV, which protects you if property values decline. Here is a simple example for a self-employed homeowner.
Simple Example
| Detail | Amount |
|---|---|
| Estimated Property Value | $850,000 |
| Maximum LTV at 80% | $680,000 |
| Existing Mortgage Balance | $475,000 |
| Equity You Could Access | up to $205,000 |
Commonly used to consolidate debt, invest in the business, or cover a tax bill. Use our home equity loan calculator for a personalized estimate. Financing available from $25,000.
What Can You Use the Funds For?
Self-employed homeowners use their equity to steady their finances and grow in several ways. These are the most common.
💼
Consolidate High-Interest Debt
Roll business and personal balances into one lower payment by consolidating debt against your home.
📈
Invest in Your Business
Access working capital for equipment, inventory, or growth without a traditional business loan.
🌊
Smooth Out Cash Flow
Bridge slow seasons and uneven income so your obligations stay current year-round.
Bank Requirements vs. an Equity-Based Self Employed Mortgage
The difference comes down to what each lender looks at. A bank builds its decision around your declared income. An equity-based lender builds it around your home. This table is a general guide.
| Requirement | Traditional Bank | Equity-Based Lender |
|---|---|---|
| Two years of tax returns | Usually required | Often not required |
| Notice of Assessment | Required | Often not required |
| Declared net income | Main approval factor | Not the deciding factor |
| Time in business | Often two years minimum | No minimum seasoning |
| Home equity | One factor among many | The primary basis for approval |
An equity-based self employed mortgage is meant as a bridge. Every file includes an exit plan to move you back to bank rates once your income has seasoned.
Our Commitment to Responsible Lending
It would be easy to promise the world to someone who feels out of options. We will not do that. Turnedaway.ca is a licensed mortgage brokerage, and our job is to give you honest guidance, not just a transaction.
We do not arrange financing above 80% loan-to-value, with no exceptions. Property values can fall, and when a homeowner is already stretching, taking them to the edge of their equity creates risk we are not willing to accept on their behalf. If your request goes over the limit, we will help you restructure it rather than stretch you thin. Every deal leaves meaningful equity in place as a buffer, with an exit strategy built in to move you back toward lower-cost financing.
The full cost of any solution, including the interest rate, lender fee, broker fee, legal fees, and appraisal, is disclosed in writing through a formal Cost of Credit Disclosure for your specific deal before you commit.
or call 1-855-668-3074
Real Client Results
Every situation is different. Here are three examples of how Turnedaway.ca helped self-employed homeowners access their equity when traditional lenders said no.
Case Study 1 | Commission-Based Income
Approved on the Full Picture, Not One Year's Income
A Durham Region homeowner worked in a commission-based sales role with strong earnings but significant month-to-month income fluctuations. Despite substantial equity and a history of on-time mortgage payments, their bank declined a refinance due to income consistency requirements. With a home valued at approximately $850,000 and a mortgage balance of approximately $475,000, equity financing was arranged to access approximately $125,000 while remaining below 80% loan-to-value.
Result: The homeowner consolidated debt, improved monthly cash flow, and secured financing based on their overall financial picture rather than a single year's income.
Case Study 2 | Recently Incorporated Business Owner
Accessing Equity Despite Tax Write-Offs
An Ontario business owner had recently incorporated a growing company and was writing off many business expenses for tax purposes. Although the business was performing well, traditional lenders were unwilling to use the available income for qualification. With a home valued at approximately $900,000 and a mortgage balance of approximately $510,000, equity financing was arranged to access approximately $100,000 while keeping total financing below 80% loan-to-value.
Result: The homeowner obtained the funds needed for business and personal goals while creating a path toward future conventional financing as the corporation matured.
Case Study 3 | Limited Income Documentation
Financing Without Waiting for More Tax Years
A self-employed homeowner had strong equity and consistent cash flow but could not provide the income documentation required by traditional lenders. Recent tax filings and notices of assessment did not fully reflect the income available to support a refinance. With a home valued at approximately $775,000 and a mortgage balance of approximately $395,000, an equity-based mortgage solution was arranged to access approximately $95,000 while remaining under 80% loan-to-value.
Result: The homeowner accessed equity without waiting for additional tax years to pass and used the funds to consolidate debt and improve financial flexibility.
or call 1-855-668-3074
Where We Serve
Turnedaway.ca helps self-employed homeowners across Canada. The cities below represent areas we serve regularly, but they are not an exhaustive list. We work with homeowners in every province and territory with the exception of Quebec, Newfoundland, Yukon, the Northwest Territories, and Nunavut.
Financing available from $25,000. Call us at 1-855-668-3074 or get started online today.
Frequently Asked Questions About Self Employed Mortgages
Can I get a mortgage if I am self-employed?
Yes, if you own a home with enough equity. A self employed mortgage is approved on the equity in your property rather than your declared income, so write-offs, commission income, or a young business do not automatically disqualify you.
Do I need to prove my income?
In most cases, no. Approval is based on your equity, not your tax returns or Notice of Assessment, which is exactly what makes this work for self-employed homeowners whose paperwork does not reflect their real cash flow.
My write-offs lower my income. Does that hurt me?
Not with an equity-based lender. Writing off expenses is smart business, and because approval is based on your home's equity rather than declared net income, it does not count against you the way it does at a bank.
I just started my business. Can I still qualify?
Often, yes. Banks usually want two years of history. Equity-based lending does not require your income to have seasoned, so being newly self-employed is not the obstacle it is at a traditional lender.
Do you lend based on my credit score?
No. As an equity-based brokerage, approval is based on the equity in your home, capped at 80% of its value. That cap is a protection for you, not a limit we hide.
How much can I borrow?
Total financing is capped at 80% of your home's value, less any existing mortgage. The exact amount depends on your property value and current financing. Estimate it with our home equity loan calculator.
Can I use the funds for my business?
Yes. Many self-employed homeowners use their equity for working capital, equipment, or to consolidate debt, without the hurdles of a traditional business loan.
What does a self employed mortgage cost?
The full cost includes the interest rate, lender fee, broker fee, legal fees, and in most cases an appraisal. We provide a written Cost of Credit Disclosure before you commit, and we subsidize appraisal costs wherever possible. For a general overview, visit Canada.ca.
How fast can I get approved?
Approvals are often available in as fast as 24 hours, with most files closing within 5 to 10 business days. Apply online to get started.
How soon can I move back to a regular mortgage?
Once your income has seasoned and your filings support it, we build an exit plan into every file so you have a clear path to refinance back to conventional financing.
Get Approved for a Self Employed Mortgage Today
If you own a home, being self-employed does not have to stand between you and your equity. Apply today and get a response within 24 hours, with no obligation and full transparency on cost.
Get Approved Nowor call 1-855-668-3074