Who we serve · Work and income
The business is real. The tax return is not the whole story.
Your shop or contracting company shows more in the bank than on the T1. That is a documentation problem, not a character problem.
What a standard underwrite reads
A Notice of Assessment that is low because of the van, tools, and a home office can shrink what you qualify for. That is how deductions work. Full documentation can still be the better path when the T1 already supports the payment, including as little as 5 percent down on an insured owner-occupied purchase. If the returns will not carry the payment, say so early so Jason looks at lenders who will read deposits.
When statements matter
Alternative documentation and stated-income programs, when they fit, usually want more down, often 10 to 20 percent. Jason will not relabel transfers as income. Keep personal and business accounts separate before you apply.
What to bring
T1s and Notices of Assessment if they exist, recent deposits, and your accountant's name. Do not drain payroll to make a down payment. See self-employed mortgages.
Incorporated versus sole prop
A numbered company, a GST account, and a sole prop are documented differently. Keep personal and business accounts separate before you apply. Contractors in Nisku, a shop in west Edmonton, and a home office in St. Albert all show up. The lender still wants paper that matches how you application taxes.
Ready to talk numbers? Call 780-721-4879 or apply online. Bring income, debts, and the listing or letter if you have one.
Related pages
Common questions
Why is my Notice of Assessment so much lower than deposits?
Deductions and reinvestment. Jason will not relabel transfers as income.
Can I use business cash for the down payment?
Only if the company still has room for tax, payroll, and a slow month.
Do I need two years of returns?
Many full-doc lenders want that. Newer businesses have fewer options and often need more down.
I just incorporated. Can I still apply?
Sometimes, with more down and fewer lenders. Bring the articles, the account statements, and last year's T1 if you have one.
Ready for a clearer mortgage plan?
Call Jason. He will educate you, answer your questions, and make the next step easier.