Yes, but not from CMHC, which stopped insuring stated-income mortgages in May 2014. Sagen's Business for Self program and Canada Guaranty's Low Doc Advantage still do: with 10% down and at least two years self-employed, you state a reasonable income instead of proving it with tax returns. With 20% or more down, B-lenders such as Equitable Bank lend to 80% of value using a signed declaration of income and bank statements. If neither fits, a private mortgage can bridge for 12 months.

What is a stated income mortgage?

It is a mortgage where the lender accepts the income you state, as long as it is reasonable for your type and size of business, instead of qualifying you only on the net income in your tax return. Self-employed people often write off so much that their taxable income looks too low for a bank. A stated income program looks at what the business really earns.

The lender still checks you. Expect proof the business exists (registration or articles, GST/HST number), your latest Notice of Assessment, bank statements, and a credit check. "Stated" does not mean "unchecked".

Which stated income route fits you?

Three quick questions. The result shows the route most self-employed borrowers in your position take.

1. How long have you been self-employed?

2. Your credit score

3. Down payment or equity

Check my options

Who still offers stated income mortgages?

	Sagen Business for Self	Canada Guaranty Low Doc	B-lender BFS (e.g. Equitable Bank)
Type	Insured	Insured	Uninsured
Minimum down	10% (purchase only)	10%, at least 5% your own money	20% (max 80% LTV)
Time self-employed	2 years	2 years, as primary owner	Under 2 years possible, with 12 months of statements
Credit	600+ above 80% LTV; 680 recommended below	"Strong credit profile"	Set by lender
Debt ratios	39% / 44%	39% / 44%	Up to 50% / 50%
Price limit	Under $1.5M (above 80% LTV)	$1.5M (above 80% LTV)	None stated
Insurance premium	1.50% to 5.85%	1.50% to 5.85%	None

From Sagen's and Canada Guaranty's own program pages, checked 5 November 2026. Equitable Bank terms are from its broker specifications and can change; we confirm with the lender before you apply. Commission-only salespeople are not eligible for the insured programs.

Advisor in shirt and tie on a phone call at a laptop, taking notes — We look at your business the way a lender will, before you apply, so you know which program will say yes.

What documents do you need for a stated income mortgage?

Proof the business is real

Business registration or articles of incorporation, GST/HST number, or a business licence.

Your latest Notice of Assessment

Lenders still look at line 15000, and want no tax owing to CRA. CRA debt?

Bank statements

Usually 6-12 months of business deposits, which show what the business really brings in.

A signed income declaration

The income you state must be reasonable for your trade, how long you have done it and the size of the business.

How much does a stated income mortgage cost?

Insured BFS: close to bank rates, plus an insurance premium added to the mortgage. On a $600,000 purchase with 10% down, the premium at 5.85% is about $31,590.
B-lender BFS: about 6-8.5% on 1-3 year terms, plus a lender fee of about 1%.
Private: 7.49-10.99% interest-only plus fees, for 12 months, only when the cheaper routes are closed. Private rates and APR.

The fastest way out of the expensive options is usually a stronger tax year: claim a little more income for one or two years and a bank can lend at its normal rates. Talk to your accountant before you file.

How do you get a stated income mortgage through us?

Tell us about the business

Trade, years, deposits and what you need. Two minutes.

We pick the cheapest route

Bank first, then insured BFS, then B-lender, then private.

Written approval

Rate, fees and documents needed, in writing.

Funding and a plan

A plan to move to a bank once your tax returns catch up.

Check my options Call (604) 591-3590

Stated income mortgage questions

Does CMHC offer stated income mortgages?

No. CMHC ended its stated-income product on 30 May 2014. Its current self-employed program needs proven income from your Notice of Assessment and tax return, although sole-proprietor income can be grossed up by 15%.

Can I refinance with a stated income mortgage?

The insured programs are for purchases only. To refinance, use a B-lender business-for-self program with at least 20% equity, or a private mortgage for a short time.

What counts as "reasonable" income?

Income that fits your trade, years in business and size. A two-year-old cleaning business stating $250,000 will be questioned. Your bank deposits should back up the number.

Can I get a stated income mortgage if I owe CRA?

Not with the insured programs, which require no tax arrears. A private mortgage can pay CRA at funding, then a B-lender or insured program can follow once the arrears are gone.

Are stated income mortgages legal in Canada?

Yes. Lenders must still verify what they reasonably can and judge whether your income makes sense. Overstating your income on an application is fraud, so state what the business really earns.

Sources. Sagen Business for Self (Alt. A) · Canada Guaranty Low Doc Advantage · CMHC Self-Employed · CMHC product changes, 2014 · Equitable Bank BFS specifications · OSFI Guideline B-20. Checked 5 November 2026.

Real people, not a call centre

Talk it through with a licensed broker before you decide

Tell us what is going on in a few lines. We call you back the same day with what lenders will say, what it costs in dollars, and how you get back to a bank. If private is the wrong tool, we say so.