ROUTE 1
Your NOA Only
Salary and dividends from your Notice of Assessment. Simple and cheap. Often too low for what you want to buy.
Self-Employed Mortgages · Ottawa & Kanata
Self-Employed Mortgages in OttawaFor Contractors, Consultants and Owners.
I'm based in Halton Hills, and self-employed files are a specialty of mine. Ottawa's version is its own thing: incorporated IT consultants billing federal departments, Kanata founders, and public servants who left this year to consult. Banks see the small salary you pay yourself. I show lenders the business behind it, all by phone and video.
Virtual calls, anywhere in OntarioFree 30-minute consultationStated income and add-back lendersFSRA #M23007671
Supporting Ottawa Business Owners
Incorporated contractors, Kanata tech and brand-new consultants
How Ottawa Earns a Living
Contract Income in a Government Town
Ottawa's private sector leans hard on one client. Lots of professionals bill federal departments through their own corporations, and Kanata North adds 540+ tech companies employing roughly 33,000 people. That income is real. On paper it often looks smaller, and lumpier, than it is.
- Contracts tied to the federal fiscal year can stop or pause around March 31, which shows up as a gap in deposits
- Owners pay themselves a modest salary and leave profit in the company for tax reasons
- Former public servants are drawing a pension and invoicing at the same time
- HST gets remitted quarterly or yearly, and lenders check that CRA is paid up
What lenders actually want
"Two years of history, told clearly, beats a bigger number told badly."Kat Brazier, Mortgage Agent Level 2
- T1 Generals and Notices of Assessment for two years
- Corporate financials and articles of incorporation
- Current contracts plus business bank statements
Shopping Matters
Four Ways a Lender Can Read Your Income
Two lenders can look at the same corporation and approve very different amounts. Here's why.
ROUTE 2
Add-Backs
Some lenders add back part of your business write-offs, or the profit you leave in the corporation, on top of what you pay yourself.
ROUTE 3
Stated Income
An insured program for incorporated owners putting at least 10% down, backed by bank statements and contracts instead of a high NOA.
Route four is alt and private lending: more weight on your equity and deposits, a higher rate, a set term and a plan to move back to a regular lender. More in business-for-self mortgages in Ontario and how I work with self-employed clients.
New Consultants
Left the Public Service to Consult?
The federal workforce is down by roughly 36,000 people, and a big share of that was early retirement. If you've swapped a pay stub for invoices, timing matters. Most lenders want two years of self-employed history. Some accept less when you're doing the same work you did as an employee, and your pension counts as income from day one. Planning a move or a refinance? Talk to me before you hand in your badge. Not after.
Self-Employed in Ottawa? Get a Real Number.
Bring your last two NOAs and a rough idea of what the business earns. In 30 minutes you'll know which lenders fit and roughly what they'd approve.
Evenings and weekends · Secure document upload · Licensed in Ontario
Declined at the Branch?
Banks Have a Box. You Don't Fit in It.
A bank's self-employed process is a form with a salary field. A consultant with a holding company, a founder paid partly in shares, a contractor between statements of work: none of them fit the form, so the file stalls or gets declined.
I read the corporation, the contracts and the deposits together, then send the file to lenders built for it. A recent decline or a CRA balance is where plenty of these files start, not where they end. See what to do when the bank says no.
How I read it
"Your low net income is a tax strategy. I'll make sure the lender understands that."Kat Brazier, Mortgage Agent Level 2
- Corporate profit considered, not ignored
- Contract renewals shown as continuity
- Alt and private only when they earn their cost
Broker or Bank?
One Bank Has One Answer. I Have Fifty.
50+Lenders that can look at your Ottawa business income, from big banks to specialist BFS lenders.
| Self-employed file | Your bank | Kat Brazier |
|---|---|---|
| Lenders on offer | Its own | 50+ |
| Retained earnings | Rarely | Shopped |
| Stated-income programs | Limited | Several |
| Under 2 years on your own | Usually a no | Sometimes a yes |
How It Works
Built Around a Busy Owner's Calendar
I'm based in Halton Hills and work with business owners across Ontario. Virtual calls work great, including evenings after client work wraps up.
Income Review
We go through your NOAs, financials and contracts on one call.
Lender Match
I pick the route and lender that gets the right number at the lowest cost.
Closing
An Ottawa lawyer closes it, and I plan your path to better rates at renewal.
FAQ
Self-Employed Questions From Ottawa
What consultants and owners ask before they apply.
How many years of self-employed income do lenders want?
Two years is the standard, shown on your T1 Generals and Notices of Assessment. Some lenders accept a shorter history when you're doing the same work you did as an employee. Alt lenders can go further with strong bank statements.
I'm incorporated and pay myself a small salary. Is that all lenders will use?
Banks usually stop there. Other lenders add back part of the corporation's retained earnings, or use a stated-income program built for incorporated owners. On the same file, that difference can move your approval a long way.
Do I need to be caught up with CRA before I apply?
Lenders want personal tax and HST paid or on a formal arrangement. A balance owing doesn't always end the deal: it can often be paid from the mortgage proceeds on closing, so the lender sees it cleared.
My government contract ends March 31. Will that hurt my application?
It can, if the lender reads it as a job ending. A renewal letter, a new statement of work or a history of renewals helps. I time applications around the fiscal year so your file shows continuity.
I work in Kanata tech and get paid partly in stock. Does that count?
Salary and bonus count with the right history. Some lenders will count RSU income with a two-year track record; others treat vested shares only as an asset you can use for the down payment.
You're based in Halton Hills. Can you handle my Ottawa mortgage?
Yes. I work with self-employed clients across all of Ontario from Halton Hills, and virtual calls work great. You upload documents securely, we review them together on video, and an Ottawa lawyer closes it.
Keep Reading
More Ways I Help
See my Ottawa mortgage page for local prices and renewals, or read about self-employed mortgages with bruised credit. Carrying business debt on personal cards? Debt consolidation in Ottawa may help. Retired from the public service and own outright? See reverse mortgages in Ottawa.
Get in Touch
Let's Look at Your Business Income
Book 30 minutes and bring your last two NOAs if you have them handy. I'll tell you which lenders fit and what's realistic. If I can't help, I'll tell you that too.
- 416-464-6763
- info@katbrazier.com
- Based in Halton Hills, serving Ottawa, Eastern Ontario and all of Ontario by phone and video
Kat Brazier, Mortgage Agent Level 2 · FSRA License #M23007671
Mortgage Powered Financial Group, FSRA #13720
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