Private Mortgage Solutions for Self Employed Homeowners in Ontario

With the recent changes to mortgage rules, if you are a homeowner and self-employed, trying to get a refinance or get money out for debt consolidation, renovations, and/or investments through the major banks can be a very stressful experience.

Even when you go through the bank where you have both your personal and business accounts, oftentimes, you will still get rejected. It’s very frustrating.

Mortgage brokers like Credit Butler who specialize in — private mortgages (1st, 2nd or 3rd), home equity line of credit, debt consolidation, and private loans — exist to help homeowners with their financial needs, regardless of credit and confirmable income.  We specialize in dealing with bad credit and bank declines. We turn a bank’s “No” into a “YES”!

Stated Income mortgage would serve the situation best where self-employed income is being used. Even for homeowners with bad credit, Credit Butler works with many lenders who do not need a credit check and who are not required to follow the same strict rules as banks do.

A private mortgage lender can accept stated income taking into account other sources of income and will accept methods of proving income that may not have been properly declared on tax returns. If you can show business contracts with customers, banking statements that show additional cash going into your personal or business bank account, internal financial statements, financial plan, internal accounting records, and other forms of income verification that most banks will not consider. 

Here’s a typical list of what a self-employed person needs to qualify for a mortgage in Ontario:

  • Income tax returns for the past 1 to 2 years may be required
  • Proof that your personal taxes are paid up and up to date
  • Statements outlining your business finances (income, expenses, debt, etc.)
  • Bank statements outlining additional money going into your bank accounts
  • Copy of the Business License or Articles of Incorporation
  • Any Contracts Demonstrating Future Income
  • A credit check may or may not be required depending on the lender


Our private mortgage lenders will provide you with great competitive variable or fixed mortgage rates and great term options, depending on various other factors. 

With the right guidance from Credit Butler, you can get approved quickly and easily and get the lowest rates possible. 


Read what recent clients have said about working with Credit Butler:


Get a Quote (No Obligation)


At Credit Butler, we offer a no-obligation and fast mortgage quote, and a simple process! We do a lot of the heavy lifting, shopping and contacting multiple lenders on your behalf. And, we can do all of this over the phone.

If you are a homeowner and self-employed or have bruised/bad credit or looking for a home equity loan or any other situation where traditional lending is not possible, CLICK THE BUTTON BELOW and let’s start the discussion.