Self-employed
Self-employed mortgages in Alberta
Writing off business expenses lowers your taxable income, and a lender that only reads line 15000 sees less income than your business earns. Business-for-self programs are built for this, and most of them are written through mortgage brokers.
You'll talk to Daniel De Sousa, a licensed Mortgage Associate. No obligation.
What each route counts as income
Updated earlierThe 3 routes, and the income each one uses.
- Traditional A-lender
- 2-yr average
- Line 15000 from your Notices of Assessment, sometimes grossed up 15%. Lower rates than the other 2 routes.
- Business-for-self insured
- Add-backs
- Bank-statement or contract income with reasonable add-backs. Slight rate premium.
- Alternative (B-lender)
- Stated income
- Supported by bank statements and financials. Higher rate plus a lender fee, on a 12–24 month plan.
- You'd qualify at
- 6.09%
- The stress test on an A-lender file uses the greater of 5.25% or your rate plus 2 points.Run the stress test
Rates as of September 21, 2026 at 9:00 a.m. MT, subject to change without notice. O.A.C. Not an offer of credit, a rate hold or a pre-approval. Daniel De Sousa, Mortgage Associate, Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a RECA-licensed mortgage brokerage.
- Talk to DanielA 15-minute call usually tells you which route you're on.
- Every route priced in dollarsIncluding the one that costs more, with a plan to move off it.
- Credit unions can helpA provincially regulated credit union isn't subject to OSFI B-20 on uninsured deals.
Is this page for you?
Tick anything that sounds like you. If you tick 2 or more, we'll tell you which kind of self-employed file you have.
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Why a bank may say no when you're self-employed
A bank branch’s approval system reads line 15000, your net income after every legitimate deduction, and stops there. Your accountant spent the year keeping that number as low as the law allows, which is their job. That leaves a gap between your taxable income and what your business can support.
Business-for-self (BFS) programs exist at every Canadian insurer to close that gap. They accept bank-statement or contract-based income, and they put add-backs (depreciation, business use of home, one-time expenses) back into the calculation. These are standard mortgage products. Bank branches have little reason to mention them.
Self-employed income is common in Alberta. Oil and gas is over 21% of provincial GDP at roughly 6% of employment, with a lot of contractor, camp-rotation, bonus, overtime and commission income. A provincially regulated credit union isn’t subject to OSFI B-20 on an uninsured deal. That’s a legitimate way to qualify, and we use it regularly.
The rules
What changes when you're self-employed
Less than most people expect. The rows below are what's different, and everything else works like any other mortgage.
Down payment
Calculate the minimumOften the same. Insured BFS programs go to the same 5% minimum on the first $500,000 as anyone else. Alternative lending usually wants 20% or more.
Time in business
Most lenders want 2 years of history. With 1 year it’s harder but possible, especially if you worked in the same field as an employee.
Some lenders will blend prior T4 income with current business performance.
Stress test
Run the stress testApplies at any federally regulated lender. A provincially regulated credit union isn’t bound by OSFI B-20 on an uninsured deal.
It's one reason we work with credit unions as well as banks.
Rate
See today's ratesA-lender rates are the same as anyone else’s. A BFS program costs slightly more. An alternative lender costs noticeably more, plus a lender fee.
We quote the extra cost in dollars per month.
CRA balance
An outstanding income tax balance will stop most lenders, because CRA can register a lien that ranks ahead of the mortgage.
Get a Statement of Account before you apply.
How we calculate your qualifying rate. Under OSFI Guideline B-20, lenders qualify you at the higher of your contract rate plus 2 percentage points, or 5.25% (the minimum qualifying rate). Since November 21, 2024, OSFI no longer prescribes this test for eligible uninsured straight switches at renewal between federally regulated lenders, with no increase in the loan amount or remaining amortization. Lenders still assess creditworthiness. New purchases and refinances generally require qualification. Provincially regulated credit unions (including Alberta credit unions) aren’t bound by Guideline B-20 and set their own qualifying policies, which is one reason a broker can sometimes place a file a bank cannot. Rules current as of September 21, 2026. Source: OSFI Guideline B-20.
Alberta income
Mortgages with rotational, camp and commission pay
A bank branch form often has no box for these kinds of income. We see them every week from Fort Saskatchewan, Leduc, Nisku and the Industrial Heartland.
Rotational and camp schedules
14 and 14, 20 and 8, shutdown work. A lender looks for a 2-year pattern and an employer who'll confirm it in writing. An unusual schedule on a pay stub isn't a problem on its own.
Bonus, overtime and shift premium
Usually averaged over 2 years and usually discounted. Some lenders count 100% of a documented 2-year average, and others count 50%. Choosing the right lender can change your qualifying income by five figures.
Commission income
Lenders average 2 years of T4s or NOAs. A rising trend is read differently from a falling one. Changing employers during those 2 years is what most often stops a file.
The credit union route
A provincially regulated Alberta credit union isn't subject to OSFI B-20 on an uninsured deal. On some files, that's what gets you approved. Not every brokerage works with these lenders.
Unpaid income tax stops more self-employed mortgages than income does
A CRA balance will stop most lenders, even a small one and even if you’re on a payment plan. That’s because CRA can register a lien that ranks ahead of the mortgage. Get a Statement of Account from CRA before you apply. If there’s a balance, clear it or tell us about it on day 1, not day 30.
Your options
What each self-employed mortgage route costs
The third route costs more than the first. We quote the difference in dollars.
Traditional (A-lender)
2-year average of line 15000, sometimes with a gross-up.
Best for 2 or more years in business with declared income that supports the payment
Rates are lower than on the BFS and alternative routes, and more lenders offer it. If your declared income covers the payment at the stress-test rate, this is the route for you.
Business-for-self insured
Bank-statement or contract income with reasonable add-backs.
Best for 2 or more years in business, with declared income lower than what the business earns
Insurer BFS programs look at the business as well as the tax return. The rate is slightly higher than on the A-lender route, and the income you can qualify with is often much higher.
Alternative (B-lender)
Stated income supported by bank statements and financials.
Best for under 2 years in business, complex structures, or rebuilding credit
Ask Daniel about this routeA higher rate and a lender fee, set up as a 12–24 month plan to move back to an A-lender. We’ll show you the extra cost in dollars and the plan to move off it.
An alternative lender costs more. If it’s the right route for you today, we’ll show you the rate premium in dollars and the plan to move back to an A-lender.
Documents to have ready
If you can send these on the first call, most files get a firm answer within 2 business days.
See the full document checklist- 2 years of Notices of Assessment (T1 Generals if incorporated).
- 2 years of T2125 (sole proprietor) or financial statements (incorporated).
- 6 to 12 months of business bank statements.
- Proof the business exists: articles of incorporation, a business licence, or a GST/HST registration.
- A Statement of Account from CRA showing no outstanding balance.
- Your personal photo ID and 90 days of down payment statements.
Check for a CRA balance before you apply. See the full checklist.
Today's rates
Today's rates for self-employed mortgages
We'd price a qualifying BFS file against these A-lender rates. Alternative-lender rates are quoted file by file, always with a plan to move back to an A-lender.
Effective September 21, 2026 at 9:00 a.m. MT
| Term | Rate | APR | Payment per $100,000 | Who it’s for | Get this rate |
|---|---|---|---|---|---|
| 5-year fixed | 4.09% | 4.14% | $531/mo | Uninsured | Hold this rate |
| 5-year fixed | 3.89% | 3.94% | $520/mo | Insured | Hold this rate |
| 3-year fixed | 4.04% | 4.09% | $528/mo | Uninsured | Hold this rate |
| 5-year variablePrime − 0.25% | 4.20% | 4.25% | $537/mo | Uninsured | Hold this rate |
Payment per $100,000 assumes a 25-year amortization, monthly payments and semi-annual compounding. We calculate it from the rate in the same row. Run it on your own number.
Rates shown are current as of September 21, 2026 at 9:00 a.m. MT and are subject to change without notice. Rates are available on approved credit (O.A.C.) only, are subject to the terms and conditions of the applicable lender, and may vary based on your credit history, income, down payment or equity, loan-to-value, property type and location, occupancy, amortization, and whether the mortgage is insured, insurable or uninsured.
Annual percentage rates (APR) shown assume a mortgage amount of $500,000, an amortization of 25 years with monthly payments, and include no lender or brokerage fees. Fixed rates are compounded semi-annually, not in advance, as required under section 6 of the federal Interest Act; variable rates are compounded monthly. Payment figures exclude property taxes, heating, condominium fees and default insurance premiums unless stated. Insured rates require mortgage default insurance and are available only on qualifying transactions.
Rates may contain errors or omissions and do not constitute an offer of credit, a rate hold or a pre-approval. Not all applicants will qualify. Contact Daniel De Sousa, Mortgage Associate, to confirm the rate available to you. Daniel De Sousa is licensed by the Real Estate Council of Alberta (RECA) and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage.
Lender and brokerage fees apply mainly on alternative and private files. If one applies to you, we’ll tell you the exact dollar amount in writing before you sign anything. We’ll also tell you if a product we recommend pays us more than another option we considered.
Calculators
Run your own numbers
Free, with no email required. They use Canadian rules: semi-annual compounding, the down payment ladder and the stress test.
Affordability
How much you can borrow when your income is counted the way a lender counts it.
Stress test
Whether you pass at the qualifying rate, and what to change if you don't.
Maximum purchase price
Your GDS and TDS ratios, and which one limits you.
Mortgage payment
Payments at every Canadian frequency, plus the full amortization schedule.
Down payment
The minimum down payment on your price, and what 20% down saves on an alternative file.
Closing costs
An itemized list of Alberta closing costs, including any lender fee.
Daniel De Sousa, Mortgage Associate with Indi Mortgage
Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage · RECA licensed · 4990 92 Ave NW #105, Edmonton. Verify our licence on RECA ProCheck(opens in a new tab)
Client reviews posted here are unedited, and each one names who handled the file. We don’t pay for reviews or filter them.
Daniel De Sousa
Mortgage Associate, Indi Mortgage
Handles incorporated and sole-proprietor files, rotational, camp and shift-premium income, commission, contract and T4A pay. Licensed by the Real Estate Council of Alberta and registered with Indi Mortgage, working out of the Edmonton office at 4990 92 Ave NW #105. Verify our licence on RECA ProCheck(opens in a new tab)
Daniel De Sousa, Mortgage Associate, is licensed by the Real Estate Council of Alberta (RECA) and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a mortgage brokerage licensed by RECA. Verify our licence on RECA ProCheck(opens in a new tab)
Monday–Friday, 9:00 a.m.–5:00 p.m. Mountain Time. Closed Saturday and Sunday. Book 15 minutes if that’s easier.
Self-employed mortgage questions
How much of my self-employed income will a lender count?
On the traditional route, lenders use the 2-year average of your declared net income, sometimes grossed up by 15%. A BFS program often counts much more, because add-backs (depreciation, business use of home, one-time expenses) go back into your income.
What if I've only been self-employed for one year?
It’s harder but possible, especially if you worked in the same field as an employee before. Some lenders will combine your prior T4 income with your current business performance. Others won’t consider you until you have 2 Notices of Assessment. We know which lenders do which.
Do I need a bigger down payment?
Not always. Insured BFS programs go to the same 5% minimum on the first $500,000 as anyone else. Alternative lending usually wants 20% or more.
Will my corporation's retained earnings count?
Sometimes, with the right lender and a letter from your accountant. It’s not standard practice, so ask us about it. It can make the difference on a file.
I'm paid by the rotation. Is that a problem?
No. In Alberta it’s routine. A lender wants a 2-year pattern and an employer willing to confirm the arrangement in writing. Bonus, overtime and shift-premium income is usually averaged over 2 years and discounted. Some lenders count the full documented average and others count half, so the right lender can change your qualifying income by five figures.
Does a brokerage fee apply to a self-employed mortgage?
Not on a standard A-lender or insured BFS file. Lenders pay Indi Mortgage a fee when your mortgage closes, so you don’t pay us for a quote. Some alternative and private files do carry a lender fee or brokerage fee. If yours does, we’ll tell you the exact dollar amount in writing before you sign anything, and you’ll have a written service agreement setting out our services and our compensation before we start work.
How long does an alternative file take to get back to an A-lender?
Usually 12 to 24 months. The plan should be written down on day 1: what the file needs to look like, what to fix, and the date we’ll look at it again. An alternative lender is meant to be temporary, so ask for the plan to move back before you sign.
Related mortgages
Find out which mortgage route fits your income
Fill in 3 fields and Daniel, a licensed mortgage associate at our Edmonton office, will call you.
- We tell you the route, any rate premium, and the plan to move back to an A-lender if you need one.
- We check credit unions as well as banks and monolines.
- If the answer is 'not yet', you get a plan to get there instead of an application.
Prefer to talk? (825) 797-5417 · Mon–Fri 9–5 MT
How we get paid. Daniel De Sousa arranges mortgages through Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a licensed mortgage brokerage, not a lender. The brokerage and Daniel are compensated by the lender you choose when your mortgage funds (paid by the lender, not by you). Compensation varies by lender and product and doesn’t change the rate you’re quoted. A lender fee or brokerage fee is uncommon and happens mainly on alternative or private lending. If one applies to your file, we’ll disclose the exact amount in writing before you sign anything. We’ll tell you if any product we recommend pays us more than an alternative we considered. Before we start work on your file, you’ll receive a written service agreement setting out our services, our compensation and any fee that applies to you.
Talk to a self-employed mortgage specialist
You'll talk to Daniel, a licensed mortgage associate, at our Edmonton office. Mon–Fri 9–5 MT.
You'll talk to Daniel De Sousa, a licensed Mortgage Associate. No obligation.