Self-Employed in Vancouver? Yes, You Can Still Get a Mortgage

Marci • May 9, 2014

A large chunk of the Canadian demographic is filled by people who are self-employed, and acting in accordance with that, many banks and lending institutions have adjusted their rules to serve this part of the population. This means that yes, even if you are self-employed in Vancouver you will be able to obtain a mortgage. Though the application may be slightly more long-winded and have added requirements involved in the process, being self-employed certainly shouldn’t be a roadblock in getting you approved for a mortgage loan.

Documents: Proving Yourself as a Business

Since you are self-employed, it won’t be possible to have pay stubs or a letter from your employer confirming your guaranteed annual income, and therefore, it might be slightly more difficult to prove to your bank or lender what you earn every year. Third-party verification might be required when it comes to this part of your mortgage application, as well as documents such as your Notice of Assessment, credit report, income tax returns, and the financial statements of your business. You may also be required to prove that you are the principal owner of the business, and provide a copy of your GST license or Article of Incorporation. Proving yourself as a business is usually just a matter of compiling the required documents and being patient and cooperative with the process. Proving your income, however, has been a problem for those in the past who have used “creative accounting” in order to lower their taxes, but wish to obtain a mortgage based on a different amount of stated income.

Different Rules: Default Insurance Requirements

There are some differences involved in the mortgages themselves when it comes to being self-employed that should be understood and taken into consideration. For regular mortgages for individuals on a salary, down payments of less than 20% are considered high-ratio mortgages and require the added expense of CMHC (or an alternative Default)insurance. This requirement is the same for self-employed mortgages, however, the insurance premium may be higher. This is an added expense for anyone self-employed borrowers who cannot prove their income, but not one that should be a major road block to getting a mortgage. In all cases, these premiums are added to the mortgage and are not an out of pocket expense.

Different Terms: Self-Employed Mortgages

There are also specific programs from the default insurers in Canada that are tailored for those who are self-employed. Though it may be more difficult to achieve as a self-employed person, you can still obtain up to 90% financing from both banks, credit unions and private lenders, though being able to put down over 35% on your mortgage will save you money as default insurance isn’t required in these instances.

Being self-employed shouldn’t be a major roadblock when it comes to getting approved for a mortgage, and with specialized programs available, it shouldn’t be much of a problem at all. The best thing you can do when completing your application is to come prepared with all of the required documents, and of course bring along your patience and cooperation. Also, ensure that you do your research on the best rates available for you, and if you have any specific questions, don’t hesitate to email me directly.

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Smart Strategies to Save for Your Down Payment

By Marci Deane • March 25, 2026
How to Start Saving for a Down Payment (Without Overhauling Your Life) Let’s face it—saving money isn’t always easy. Life is expensive, and setting aside extra cash takes discipline and a clear plan. Whether your goal is to buy your first home or make a move to something new, building up a down payment is one of the biggest financial hurdles. The good news? You don’t have to do it alone—and it might be simpler than you think. Step 1: Know Your Numbers Before you can start saving, you need to know where you stand. That means getting clear on two things: how much money you bring in and how much of it is going out. Figure out your monthly income. Use your net (after-tax) income, not your gross. If you’re self-employed or your income fluctuates, take an average over the last few months. Don’t forget to include occasional income like tax returns, bonuses, or government benefits. Track your spending. Go through your last 2–3 months of bank and credit card statements. List out your regular bills (rent, phone, groceries), then your extras (dining out, subscriptions, impulse buys). You might be surprised where your money’s going. This part isn’t always fun—but it’s empowering. You can’t change what you don’t see. Step 2: Create a Plan That Works for You Once you have the full picture, it’s time to make a plan. The basic formula for saving is simple: Spend less than you earn. Save the difference. But in real life, it’s more about small adjustments than major sacrifices. Cut what doesn’t matter. Cancel unused subscriptions or set a dining-out limit. Automate your savings. Set up a separate “down payment” account and auto-transfer money on payday—even if it’s just $50. Find ways to boost your income. Can you pick up a side job, sell unused stuff, or ask for a raise? Consistency matters more than big chunks. Start small and build momentum. Step 3: Think Bigger Than Just Saving A lot of people assume saving for a down payment is the first—and only—step toward buying a home. But there’s more to it. When you apply for a mortgage, lenders look at: Your income Your debt Your credit score Your down payment That means even while you’re saving, you can (and should) be doing things like: Building your credit score Paying down high-interest debt Gathering documents for pre-approval That’s where we come in. Step 4: Get Advice Early Saving up for a home doesn’t have to be a solo mission. In fact, talking to a mortgage professional early in the process can help you avoid missteps and reach your goal faster. We can: Help you calculate how much you actually need to save Offer tips to strengthen your application while you save Explore alternate down payment options (like gifts or programs for first-time buyers) Build a step-by-step plan to get you mortgage-ready Ready to get serious about buying a home? We’d love to help you build a plan that fits your life—and your goals. Reach out anytime for a no-pressure conversation.

Bank of Canada Holds Rate at 2.25% — March 18, 2026

By Marci Deane • March 18, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. For anyone watching the mortgage market — whether you're renewing, purchasing, or simply keeping an eye on borrowing costs — here's a breakdown of what was announced and what it may mean for you.

Is Now the Right Time to Buy? A Look at Canada's 2026 Housing Market

By Marci Deane • March 17, 2026
For many Canadians, the dream of homeownership has felt like a moving target. After years of market volatility, shifting interest rates, and economic uncertainty, you might be wondering: is 2026 finally the year to make a move?