Self-employed mortgage leads
Business owners and contractors whose income does not fit a bank's forms, with the situation on the form.
Self-employed mortgage leads are owners, contractors and commissioned earners who make a good living and still get a no from the bank, because the tax return shows less than they earn. Some fit a bank once the file is presented well. Some need a stated income or alternative lender program. Our campaigns reach them under your name, capture the situation up front, and deliver each inquiry to you alone.
- Business owners, contractors and commission earners
- Built for bank, stated income and B lender files
- Exclusive and never resold
Self-employed leads, in 43 seconds
Same borrower, two ways to read the income, and what the inquiry tells you before you call.
Same borrower, two ways to read the income
A self-employed borrower is the same person at both counters. What changes is which paperwork each lender trusts.
Proof of income
Notices of Assessment with the T1 General, and the statement of business activities (T2125) for sole proprietors. The income that counts is what the return shows.
Bank statements and business records, read for what actually comes in. The stated income is tested against the deposits.
Time in business
CMHC recommends at least 24 months in business or in the same line of work for its Self-Employed program. Newer owners can qualify on other strengths.
Each lender sets its own minimum. Years in the same trade can count when the business itself is young.
Write-offs
They lower taxable income, and that is the number the bank sees. CMHC allows a 15% gross-up for sole proprietors and partnerships, or an add-back of eligible deductions.
Looks past the write-offs to the cash flow through the account.
What it costs
The best pricing, and with under 20% down, access to insured lending.
Usually a higher rate, often a lender fee, and more equity. Often a short term, used as a bridge back to a bank.
Who it suits
Owners whose tax returns show enough income, or whose file can be shown that way.
Owners whose real income is clearly stronger than their tax return.
Alternative lender terms vary a lot by lender, so we describe them in general terms and never quote a rate. Where a lender sits for your file is your call as the broker.
What the lead tells you before you call
The form asks what kind of business, how long it has operated, the province, what the borrower wants to do and when. That is enough to tell a borrower a bank can still handle from one who needs a different lender, and to decide who gets the first call.
Some of these files will not fit a bank or a B lender either, because of credit damage or tax arrears. Those belong with private mortgage leads. Rental owners who are also self-employed often show up under investment property leads, and owners who want equity out of a home are covered under refinance leads.
Ads carry your brokerage name and licence number where your province requires it, and never promise an approval or a rate. Pick your delivery model on exclusive mortgage leads: managed campaign or pay per lead. The company behind this site is Amplify Leads, month to month with no long contracts.
Questions brokers ask us
What is a stated income mortgage?
A program for self-employed borrowers where income is declared and then tested against bank statements and business records, instead of being read off a Notice of Assessment. Alternative lenders, often called B lenders, offer these programs. Terms differ by lender, and the cost is usually higher than at a bank.
Does every self-employed borrower need an alternative lender?
No. CMHC has a Self-Employed program that gives self-employed borrowers access to mortgage loan insurance, using the Notice of Assessment, T1 General and statement of business activities (T2125). It recommends at least 24 months in business or in the same line of work, and for sole proprietors and partnerships it allows a 15% gross-up or an add-back of eligible deductions. Many files fit a bank once they are presented properly.
Why do self-employed borrowers get declined at the bank?
Usually because their tax return shows less income than they actually earn. Write-offs lower the number a bank can use. A short time in business, or income that moved around between years, causes the same problem.
What is the difference between a B lender and a private lender?
A B lender is an alternative to the banks that looks at files the banks will not. A private lender is an individual, firm or mortgage investment corporation that lends mainly against the property and the equity. Files that fit neither a bank nor a B lender move to private, which is covered under private mortgage leads.
How do I get these leads?
A managed campaign under your own name, or pay per lead in the provinces you work in. Leads are exclusive and never resold, and the contract is month to month. Book a free strategy call.
See what a campaign would look like in your market
A free 30-minute call. We look at your province, your products and what is already working, and map out what we would build. If it is not a fit, you will hear that too.