Income Requirements Download Guide

Income Requirements – Self Employed

Self Employed – Verified Income
(Amount on your personal taxes affords the home you are wanting to purchase)
  • Most recent two years Full T1 Generals, with statement of business activities
  • Most recent 2 years personal Notice of Assessments.
  • If there is a balance owing to CRA, the lender will require confirmation that balance owing is paid.
  • Articles of Incorporation (If you are incorporated)
  • If you are not incorporated, please provide your Business for Self-Documents (Ex: GST Number etc. Please contact us directly for further details on Non-Incorporated Self Employment)
  • Previous 2 Years of Company Financials
Self Employed – Non-Verified
(Pay yourself very little personally/Less than a 2 Year Average)
  • Most recent 2 years Full T1 Generals, with statement of business activities
  • Most recent 2 years personal Notice of Assessments.
  • If there is a balancing owing to CRA, the lender will require confirmation that balance owing is paid.
  • Articles of Incorporation
  • Previous 2 Years Company Financials
  • 6-12 Months Company Account Bank Statements
(Depending on how long you have been in the industry as well as other factors based on our income, the above documents may not all be required)

Please Note, further documentation may be required upon review. If your income doesn’t meet any of the above guidelines, please contact us directly and we will be happy to advise you on what we will require to proceed.