Self-Employed Mortgage Ottawa: How Business Owners Qualify for Approval
Ottawa’s business owners power the local economy, but traditional lenders often fail to recognize their income potential. Fortunately, a self-employed mortgage through a broker opens doors banks tend to close.
Why Self-Employed Borrowers Struggle
Tax deductions and fluctuating income make many entrepreneurs appear riskier than they are. Banks demand T4 slips and multi-year NOAs, which don’t always tell the full story.
How Mortgage Brokers Help Self-Employed Clients in Ottawa
- Present business bank statements, contracts, and invoices as proof of income.
- Access lenders who specialize in self-employed borrowers.
- Customize loan structures for variable income.
- Deliver quick approvals and flexible terms.
Real Ottawa Success Story
Arjun, a self-employed graphic designer, couldn’t meet his bank’s strict criteria. Burke Financial secured him approval using six months of revenue history and solid credit, allowing him to buy his first condo in Westboro.
Steps to Get a Self-Employed Mortgage in Ottawa
- Organize business bank statements and invoices.
- Gather incorporation or registration documents.
- Work with a broker early to plan your approval strategy.
- Use a mix of personal and business assets to strengthen your application.
Mistakes to Avoid
- Waiting until tax season to apply.
- Not separating business and personal finances.
- Relying on a single lender.
Final Tip:
Being self-employed shouldn’t limit your ability to own property. With an experienced broker, your hard work can finally pay off in the form of homeownership.
Self-employed in Ottawa and ready to buy or refinance? Let’s find the best solution for you.
📞 1-866-702-9394
🌐 www.burkefinancial.ca
