Reviewed by Micky Khaneka, licensed mortgage broker
Contractors and company owners in Vaughan can qualify on T1 income, corporate earnings, contracts, and business bank statements.
MKG Mortgages lines those records up with a lender that accepts that verification, including files from Concord and trades working across Woodbridge.
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 T1 line 15000: $68,000. The financial statements show $24,000 of depreciation and $18,000 paid to the owner as a one-time equipment reimbursement that was expensed. One lender may add back depreciation and ignore the reimbursement. Another may use only the $68,000.
These are the kinds of self-employed mortgages files we structure in Vaughan.
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.
Concord is full of owner-operated yards and warehouses, so the business and the home are often separate addresses. Woodbridge, Maple, and Vellore are where the house purchase or refinance usually sits. Kleinburg and Thornhill files tend to be larger balances, which makes the income calculation less forgiving.
Concord is full of owner-operated yards and warehouses, so the business and the home are often separate addresses. Woodbridge, Maple, and Vellore are where the house purchase or refinance usually sits. Kleinburg and Thornhill files tend to be larger balances, which makes the income calculation less forgiving.
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 Vaughan 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.
Two years of personal tax returns and notices of assessment, business financials if you have a corporation, and a recent set of contracts or invoices. Business bank statements fill in months the tax return cannot.
No. A letter can explain a figure. Lenders still want the returns or the statements behind it. Alternative verification is a different set of documents, not a thinner one.
Yes. The business location and the house are separate. The lender cares that the income is documented and that the house fits the mortgage.
Bring both years and the year-to-date statements. Some lenders average. Some will look at the recent trend if the statements support it. We do not hide the weak year.
No. A sole proprietor is mostly the T1. A corporation adds the T2, dividends, and salary. We ask which one you are before we list the documents.
The other services in this list each have a Vaughan 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 Vaughan 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.
Vaughan area hubSelf-Employed Mortgages is written for each city MKG serves, not only Vaughan. 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 Vaughan 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.