Reviewed by Micky Khaneka, licensed mortgage broker
Self-employed buyers and owners in Toronto can qualify on T1 returns, corporate financials, contracts, and business bank statements.
MKG Mortgages matches that paperwork to an A-lender or alternative business-for-self program, including add-backs the lender allows.
MKG matches the documents you have filed to a program that can use them. CMHC can gross up verified income or add back deductions the program allows. Sagen and Canada Guaranty stated-income programs still keep line 15000 and the bank statements.
Illustrated income: $60,000 in salary and $80,000 in dividends, two years running, on a corporation that nets $40,000 after those payments. One lender may add the two-year average of salary and dividends, about $140,000. Another may want only the T1 line and stop there.
These are the kinds of self-employed mortgages files we structure in Toronto.
Illustrative example
The challenge. The business deposits were healthy, and the taxable income on the return was lower because of ordinary write-offs.
How MKG structured it. We built a business-for-self file with an alternative lender, added back the expenses that lender allows, and supported it with two years of notices of assessment and business bank statements.
Illustrative example
The challenge. A salary letter did not show the dividends the owner actually took from the company.
How MKG structured it. We used two years of T1 Generals, the corporate financials, and the dividend record. An A-lender program that accepts salary plus dividends was the fit.
Illustrative example
The challenge. Commission landed in uneven months, so a single pay period did not describe the year.
How MKG structured it. We averaged two years of commission income from the T1 and notices of assessment, and attached the year-to-date commission statement and deposit history.
Illustrative example
The challenge. Income arrived as many small platform deposits, with no employer letter.
How MKG structured it. We documented the work with notices of assessment and business bank statements that show the platform deposits, then placed it with an alternative lender that reads those records.
Illustrative example
The challenge. There was one full tax year, plus contracts and a strong year-to-date.
How MKG structured it. We used the filed year, the contracts, and business bank statements with an alternative lender. Where a prime file needed more history, a co-signer or a short private mortgage bridged back to prime.
Illustrative example
The challenge. Canadian credit was short, and the company was new, while the down payment was already saved.
How MKG structured it. We traced the down payment, used the business bank statements and the job or contract on file, and structured the purchase with a newcomer program and a co-signer where that strengthened it.
The program follows the documents you have filed and the statements that support them.
Consultants downtown and in the Annex often have a corporation and a small salary. Leslieville and Midtown files mix dividends with a day rate. Liberty Village condos add a building review on top of the income review. Etobicoke and Scarborough business owners more often hold the house they want to refinance in their personal name.
Consultants downtown and in the Annex often have a corporation and a small salary. Leslieville and Midtown files mix dividends with a day rate. Liberty Village condos add a building review on top of the income review. Etobicoke and Scarborough business owners more often hold the house they want to refinance in their personal name.
The note below is paraphrased from a public Google review. It is one client's experience, not a promise that the next file ends the same way. A rate in a client's words is not an offer from MKG. The lender still decides.
A self-employed client wrote that the file was organized around the business documents they actually had, after a bank had passed.
Paraphrased from a public Google review of MKG Mortgages. Names and identifying details are left out.
Micky Khaneka is a licensed mortgage broker, FSRA M21002608, at FLOW Lending Group, Brokerage #12864. Canadian Mortgage Professional named him to the CMP Top 75 for 2026, at number 15 in Canada. The lender still decides. The lender still decides.
Micky Khaneka, licensed mortgage broker, M21002608, FLOW Lending Group, Brokerage #12864
The firm serves clients in English, Hindi, Punjabi and Bengali.
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People ask how self-employed mortgages works on a Toronto property, and what documents come first. The short answers below stay on this page. The lender still decides, and the office is in North York. The lender still decides. Any example figure is illustrative.
Usually two years of T1 returns and notices of assessment, plus the T2 and financial statements if you are incorporated. Contracts or invoices help explain a year that jumped.
Some programs look at business bank statements alongside the return. That is still verification. It is not a file with nothing to show. The statements have to be complete, not a highlight reel.
We look at add-backs a specific lender allows, using the expenses already on the return.
Some lenders want two years. Others will look at a shorter history with the right statements. We say which group a file belongs to before you pay for an appraisal.
The returns are what let us match you to a program. A first conversation can outline the path.
The other services in this list each have a Toronto page. Open the one that matches the file, whether that is a purchase, a refinance, a renewal, a consolidation, self-employed income, or a private mortgage. The lender still decides. The lender still decides.
The Toronto hub names the neighbourhoods, the housing that shows up, and a local example. It links back to these service pages. The office that handles the file is in North York, and the lender still decides. The lender still decides.
Toronto area hubSelf-Employed Mortgages is written for each city MKG serves, not only Toronto. The local page changes the neighbourhoods and the example. The rules of the product stay the same, and the lender still decides. The lender still decides. Any example figure is illustrative.
Send the agreement or the mortgage statement for the Toronto property, or book a call. The first conversation is free. It is a review of this file, not an approval, and the office that handles it is in North York.
Sources. CMHC — mortgage loan insurance · Sagen · OSFI Guideline B-20 · FCAC — mortgages Published rules change. Read the current page, and confirm tax with your lawyer, before you rely on a figure.
Any rate or payment mentioned is illustrative and on approved credit (OAC). It is not a quote, a commitment, or a current offer.