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Blogs & Articles

Self-Employed Mortgage Options: Unlocking Opportunities

1/28/2025

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Sponsored Content: This article is brought to you by Bridgewater Bank

The number of self-employed Canadians remains stable, and with about 2.6 million self-employed people, you can bet some will be coming to you to help finance a mortgage. 

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​You might have two types of self-employed clients walking through your door: 

  •  The first type can demonstrate consistent earnings over time. They will be able to provide traditional                income-proving documents, such as accountant-prepared financial statements (profit and loss, balance        sheets), T1 Generals, and their Notice of Assessment (NOA). 
​
  •  The second type may have a lower reported income but are still deemed good candidates for a                        mortgage. They may have substantial tax write-offs on financial statements but have a strong ability to          repay loans due to sustainable business, sufficient gross incomes, and robust cash position. 

These two clients have one thing in common—they may have trouble qualifying at a traditional bank with their self-employed income

Underwriting approaches for proving income 

We’re all about flexibility. Bridgewater Bank’s  Self-Employed Mortgage Suite  provides several ways to prove your client’s income, the following two being the most popular. 

Your first step is to talk to your Business Development Manager.  Before you submit a deal, let us help you determine which of the following approaches will help your client get an approval. 

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Don’t just take our word for it 

We know we have great mortgage options for self-employed Canadians, and we’re not the only ones who think so.   

​             “I recently funded my first bank statement file with Bridgewater Bank and let me tell you – it was                         delightful! The entire process ran smoothly, from underwriting to
funding--not only were we able to                     save our clients thousands of dollars in interest, we were also able to have this file committed,                             reviewed and closed faster than I thought possible. I would highly recommend Bridgewater Bank                         for your next bank statement file – you’ll be glad you did!” — Donna Thornton from DLC Forest City 

​We highly recommend reaching out to your BDM when you have a self-employed file. They’ll help you understand the best income approach to follow and they’ll help you put the file together for quick approvals. https://bwbbrokerinfo.ca/contact-us/ 

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Alberta Mortgage Brokers Association
7326 10th Street NE, Suite 310   
​Calgary, AB T2E 8W1
Phone: 587.774.9828 
​Email: [email protected]
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At the Alberta Mortgage Brokers Association, we acknowledge that our work in the housing industry is deeply connected to the land we call home. We recognize and pay tribute to the traditional territories of the peoples of Treaties 4, 6, 7, 8 and 10.  We also honour the Métis Nation of Alberta.  As we work to facilitate homeownership in Alberta, we remember that we operate on land that has been home to Indigenous peoples for generations.