Self-employed
Self-Employed Mortgages in Vaughan & Ontario
I'm Lucia Gugliuzzi, a licensed Vaughan mortgage broker, and after 22+ years in this business I can tell you that being self-employed shouldn't make getting a mortgage harder than it needs to be. If you run your own company, freelance, contract, or earn through commissions, you already know the frustration: your bank looks at your line 150 net income, sees a modest number after write-offs, and suddenly the mortgage doesn't reflect what you actually earn. That's not a knock on you, it's just how a single lender reads one set of numbers.
My job is to translate the real picture of your income into something a lender understands and to match you with the right one. Through Mortgage Architects (FSRA brokerage #12728), I have access to 50+ lenders, and they don't all treat self-employed income the same way. Some want two years of tax returns, some will gross up your declared income, and some have alternative or stated-income programs built specifically for business-for-self borrowers. Finding the lender that fits how YOU earn is the whole game, and there's no broker fee to you because the lender pays me (O.A.C.).
Who this helps
Incorporated business owners
You pay yourself through a mix of salary and dividends, or you leave retained earnings in the company to manage tax. I look at your full financial picture, not just one line, so your real earning capacity is what we work with.
Sole proprietors and freelancers
Designers, tradespeople, consultants, realtors and contractors who report on a T1 with lots of legitimate write-offs. We may be able to gross up your net income or look at alternative programs that read your gross differently.
Commission and gig income earners
If your income swings month to month or you're newly self-employed with under two years of filings, there are still options worth exploring, and we'll see what's possible together.
Buyers turned down by their own bank
If your bank already said no or offered far less than you expected, that's often a fit problem, not a you problem. A different lender's criteria may read your file completely differently.
What makes self-employed mortgages different is that there's no single "income" number we can point to, so the documentation strategy matters more than anything. With a salaried borrower, a lender sees a paystub and a number. With you, we're building a case from several angles: your Notices of Assessment, your T1 General returns, your business financials, and often your bank statements showing real deposits. The strongest applications tell a consistent story across all of those, which is why I like to see your documents early, before we approach any lender.
The most common mistake I see is borrowers writing down their income aggressively for years to minimize tax, then applying for a mortgage right after. Those goals work against each other. If you know you'll be buying or refinancing in the next year or two, it's worth a conversation with me and your accountant first, because how your last couple of returns look has a direct effect on what you may qualify for. The second mistake is assuming the bank's "no" is the final word. It usually just means that one lender's box didn't fit your situation.
My approach is to figure out which lane you belong in before we apply. Traditional A-lenders may work if your declared income is solid or can be reasonably grossed up. If write-offs make your net income look low, alternative and stated-income programs exist that lean more on your gross revenue, bank statements and overall business health, sometimes with a different rate or a larger down payment in exchange for the flexibility. There's no one-size answer, and approvals always depend on lender criteria, so the value I bring is knowing where to send your specific file.
What you’ll typically need
- Notices of Assessment (NOA) for the last 2 years, showing no taxes owing
- T1 General personal tax returns for the last 2 years
- Business financial statements (for incorporated borrowers) for the last 2 years
- Proof of business ownership or registration (articles of incorporation, business licence, or GST/HST registration)
- Recent business and personal bank statements (typically 3-6 months)
- A signed declaration of income or recent client contracts/invoices, where applicable
- Down payment confirmation and source of funds (savings, FHSA, RRSP HBP, gift)
- Government-issued photo ID
My five-step process works the same way here, with one key difference: the discovery and document-review steps come first and matter most, because we shape your income story before I ever match you to a lender, then move through pre-approval (typically in 24-48 hours), application and closing.
Today’s rate — for your file
Today’s best rate — for your file
I shop 50+ lenders so you don’t have to.
Rates change daily and depend on your down payment, credit, property and term — so a single number on a webpage rarely matches what you’ll actually get. I compare 50+ lenders to find your best rate, at $0 fee to you. Book a 15-minute call for a live, personalized quote.
How it works
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Discovery call
A free, no-obligation conversation about your goals, your situation, and what’s realistic.
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Document review
I review your full picture — income, credit, down payment — and tell you honestly where you stand.
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Lender matching
I compare 50+ lenders to find the product and rate that genuinely fit your file.
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Application
I package and present your application to the right lender to give it the best chance.
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Approval & closing support
I guide you through approval and closing — and stay in your corner after. (Approvals depend on lender criteria.)
Self-Employed — your questions
Can I get a mortgage if I write off most of my income and my line 150 looks low?
Possibly, yes. This is exactly why self-employed borrowers come to me. Some lenders will gross up your declared net income, and others offer alternative or stated-income programs that look more at your gross revenue and bank deposits. It depends on the lender's criteria, but a low net income is rarely the end of the conversation.
Do I need two full years of tax returns to qualify as self-employed?
Two years of NOAs and T1s is the most common requirement and gives you the widest range of options, but it's not always a hard cut-off. If you've been self-employed for less time, there are lenders and programs that may still work, and we'll look at what's realistic for your situation.
Will I pay a higher rate or need a bigger down payment as a self-employed borrower?
Not necessarily. If your income documents support a traditional A-lender approval, your terms can look just like a salaried borrower's. The alternative and stated-income programs sometimes trade a different rate or a larger down payment for added flexibility, but we only go there if it's the right fit for you (O.A.C.).
