Mortgage for Self-Employed in Vancouver, BC
November 29, 2025 | Posted by: Alex Vinarski
Navigating the mortgage process can feel daunting when you're self-employed. Traditional lenders often focus solely on your taxable income from Line 15000 of your Notice of Assessment (NOA), which doesn't always reflect your true earning power due to legitimate business write-offs.
The good news? You have multiple pathways to homeownership. As a mortgage broker who specializes in self-employed financing, I have access to a range of solutions designed for business owners, freelancers, and contractors. Here are your five main options for securing a mortgage in Vancouver.
1. The Standard Mortgage (Best Rates)
If your declared income on your last two years of NOAs is strong and stable, you can qualify for a standard mortgage just like any salaried employee.
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Minimum Down Payment: As low as 5%
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Rates: The best available market rates.
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Mortgage Insurance: CMHC insurance is required with a down payment less than 20%.
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Best For: Self-employed individuals with high, stable declared income.
2. The CMHC Self-Employed Program (The 'Add-Back' Strategy)
This is a powerful program for those whose taxable income is lowered by business expenses. Lenders can 'add back' a percentage of your income or reinstate specific expenses to get a truer picture of your earnings.
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Minimum Down Payment: 10%
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Rates: Excellent, best available market rates.
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Mortgage Insurance: CMHC insurance is required.
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Best For: Borrowers with moderate declared income but significant, legitimate business write-offs.
3. The Net Worth Program (Leverage Your Assets)
If your income is low but you have substantial savings or investments, this program uses your assets to boost your qualification. For example, if you qualify for $200000 with your income, and you have $500000 in liquid assests, you can get $700000 mortgage.
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Minimum Down Payment: 20% - 35%
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Rates: Very competitive, close to best market rates.
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Mortgage Insurance: No insurance fee required.
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Best For: Self-employed individuals with strong assets but lower declared income.
4. The Stated Income Program (Bank Statements Program)
This program uses your business's cash flow, not your tax returns, to qualify you. You state your income, and we verify it with your business bank statements. No tax return required. Only need to provide business registration and 12 months business bank statements.
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Minimum Down Payment: 20%
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Rates: Starting from 4.99%
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Fee: A one-time 1% lender fee typically applies.
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Credit: Available to borrowers with bad credit.
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Best For: Those with strong cash flow that isn't reflected on their tax returns.
5. Private Mortgages (Fast & No-Income-Verification)
When other doors have closed, a private mortgage provides a fast, equity-based solution. Approval is based on your property, not your income or credit.
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Minimum Down Payment: 25% (20% considered in some cases).
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Rates: Starting from 4.99%, plus a lender/broker fee.
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Documents: Just an application, appraisal, and credit check. Any credit situation is considered.
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Best For: Urgent purchases, complex situations, or as a short-term bridge to improve your finances.
Finding the Right Path for You
The best option depends on your unique financial picture—your income, credit, assets, and down payment. As your broker, I cut through the complexity to match you with the right lender and program. More information on mortgages for self-employed here: https://www.ipotekacanada.com/index.php/mortgages-selfemployed
Don't let the self-employment journey keep you from owning a home.
Contact me today for a free, confidential consultation to find your self-employed mortgage solution.
