Top Mortgage Lenders for Self-Employed Canadians in 2025 (And How to Qualify)
If you're self-employed in Canada and looking to buy a home, you might already know the mortgage process isn't exactly built for freelancers, consultants, or business owners. Traditional lenders often ask for piles of paperwork, demand consistent income over several years, and can be reluctant to approve applications that don't fit the mould.
But here's the good news: self-employed Canadians can get approved for great mortgage options. You just need to know where to look, how to prepare, and which lenders are most flexible. In this guide, we'll walk you through the best mortgage lenders for self-employed borrowers and what you need to qualify.
What Do Lenders Look for in Self-Employed Mortgage Applications?
Before we dive into the top lenders, let’s cover what you’ll typically need to qualify:
2+ years of self-employed income
Notice of Assessments (NOAs) for at least the last two years
Business financial statements or T1 Generals
Good credit score (ideally 680+)
Lower debt-to-income ratio
If you don’t meet some of these, don’t panic. Many alternative lenders offer flexible programs based on stated income, gross deposits, or business revenue rather than traditional tax returns.
Top Mortgage Lenders for Self-Employed Canadians
Here are the top lenders offering competitive and flexible mortgage options for self-employed individuals in 2025:
1. RBC (Royal Bank of Canada)
Best for: Established business owners with strong credit.
RBC offers a tailored self-employed mortgage program. If you have solid NOAs and a two-year income history, you can qualify for standard A-lender rates. Their advisors also understand complex income structures.
Pros:
Trusted national bank
Competitive rates
Can use add-backs like depreciation or business expenses
Cons:
Requires thorough documentation
Not ideal for newer self-employed individuals
2. Home Trust
Best for: Stated income mortgages and recent business owners.
Home Trust is one of the most flexible B-lenders in Canada. If you have a 10%+ down payment and reasonable stated income, you can get approved without full tax documentation.
Pros:
Stated income programs
More flexibility for new self-employed borrowers
Accepts alternative forms of income proof
Cons:
Slightly higher interest rates
Fees may apply for certain loan products
3. Equitable Bank
Best for: Borrowers looking for flexibility with solid credit.
Equitable Bank offers alternative lending options and is known for accommodating the self-employed. If you don’t qualify through a big bank, Equitable might still offer you a solid deal.
Pros:
Accepts stated income
Works with mortgage brokers
Fast processing
Cons:
Typically accessed through a broker
Interest rates higher than A-lenders
4. Manulife Bank
Best for: Self-employed individuals with multiple income streams.
Manulife's "One" account allows you to combine mortgage and banking, which can be helpful for business owners managing irregular income.
Pros:
Innovative mortgage products
Allows income flexibility
Access to banking tools
Cons:
Must have good financial habits
Requires explanation of income patterns
5. Community Trust
Best for: Borrowers with unique income or credit challenges.
Community Trust is a B-lender that looks at the big picture, not just your tax returns. If you have good equity and business cash flow, they can be a strong option.
Pros:
Very flexible underwriting
Accepts stated income or bank statements
Reasonable down payment requirements
Cons:
Available mainly through brokers
Higher rates than banks
6. National Bank
Best for: Quebec-based or French-speaking borrowers, and those with more traditional documentation.
National Bank offers self-employed solutions similar to RBC. Their strength lies in personal service and flexible options if you’re well-prepared.
Pros:
Competitive A-lender rates
Good service and local presence
Cons:
Requires 2+ years of documented income
Less known outside Quebec
7. Your Local Mortgage Broker
Best for: Comparing multiple lenders and finding a custom fit.
A mortgage broker can access dozens of lenders, including all of the ones above, and help you match with the right one. They’ll also help prep your application and explain income options.
Pros:
Saves time and stress
Access to multiple lenders
Custom advice based on your profile
Cons:
May charge a fee (though many are free to the borrower)
Quality depends on the individual broker
Comparison Table: Self-Employed Mortgage Lenders (2025)
| Lender | Ideal For | Docs Required | Type | Notable Feature |
|---|---|---|---|---|
| RBC | Traditional self-employed borrowers | 2 years NOA | A-Lender | Strong advisor support |
| Home Trust | Stated income borrowers | 10%+ down, stated income | B-Lender | Very flexible underwriting |
| Equitable Bank | Alt-A applicants | Broker submission | B-Lender | Fast and fair processing |
| Manulife Bank | Mixed income types | Full profile | A-Lender | Banking + mortgage integration |
| Community Trust | Newer or challenged applicants | Stated or supporting docs | B-Lender | Alternative documentation accepted |
| National Bank | French-speaking / QC residents | Traditional docs | A-Lender | Great support in Quebec |
| Mortgage Broker | Anyone unsure where to go | Varies by lender | Mixed | One-stop-shop with advice |
Get Professional Advice
Hello, I’m David Pipe. At WealthTrack, we can help you reach your financial goals — book a free 15-minute call with us today to find out how to get started.
Final Thoughts: Should You Use a Broker or Go Direct?
You could go directly to RBC or Home Trust and start the process. But unless you already know exactly where you qualify, using a mortgage broker is the safer bet. They know which lenders are friendly to self-employed applications, and they’ll structure your file to give you the best shot at approval.
And in many cases, the lender pays them — not you.
Don’t let your self-employed status stop you from getting a great mortgage. You just need the right game plan and a lender (or broker) who sees your true potential.
Ready to get started? Talk to a mortgage broker today who specializes in self-employed borrowers. They’ll compare your options, explain the process, and help you move forward with confidence.
