Self-Employed Borrowers
Private Mortgages for Self-Employed Borrowers in Ontario
You run your own business and your income is real — but the bank reads line 150 of your tax return, not your bank balance. If a lender said no, your home equity may still say yes.
Stonefield Capital helps self-employed Ontario homeowners who are declined by banks because their reported income understates what they actually earn. Qualification is based on the equity in the property and a clear exit strategy rather than tax-return income or the federal stress test. Borrowers are matched with a Stonefield-approved mortgage broker who structures the file and plans the return to conventional financing.
Why Banks Decline Self-Employed Borrowers
Self-employed income is the classic bank decline. The write-offs that lower your tax bill also lower the income a lender sees, so a business owner taking home plenty of money on paper looks like they earn far less. Add a requirement for two full years of filed returns, the federal stress test layered on top, and any recent dip, and a perfectly sound borrower is turned away for reasons that have nothing to do with whether they can carry the mortgage.
A private mortgage looks at the question differently. Stonefield qualifies on the equity in your home and a clear exit — a refinance back to a bank once your income history catches up, or a sale — not on the income your accountant worked hard to minimize. You are then matched with a Stonefield-approved broker who structures the file and plans that exit from the start.
The Play: Bridge Now, Refinance Once Your Income Shows
The move for a self-employed borrower is almost always the exit. Use a short private mortgage to get the financing you need today — a purchase, a refinance, an equity take-out — then use the next 12 months to build the two years of filed returns, or the cleaner income picture, that a bank wants to see. Once your history catches up, refinance back to conventional financing at a lower rate. The private mortgage was never meant to be permanent; it's the bridge across the gap the bank's calendar created. A Stonefield-approved broker plans that exit with you from day one.
When Self-Employed Borrowers Come to Us
Most of these are strong borrowers a bank's form simply can't read.
Under Two Years In Business
You went out on your own recently and don't yet have the two years of filed returns a bank demands.
Write-Offs Shrink Your Income
Your return shows a fraction of what you actually earn, so the bank's ratios don't work — even though your cash flow does.
Variable or Commission Income
Your income is lumpy or commission-based, and the bank averages it down to a number that doesn't reflect reality.
Bank Declined or Won't Renew
A lender said no, or won't renew at maturity, and you need a bridge while you sort out conventional financing.
Equity Take-Out for the Business
You need to pull equity from your home for working capital, a tax bill, or an opportunity, fast.
A Closing That Can't Wait
You have a firm closing and the bank's underwriting queue won't move in time.
In every case Stonefield looks at your home's equity and a realistic exit — not the income line on your tax return.
What Self-Employed Borrowers Should Know
Equity, Not Income
Qualification rests on the equity in your property and a clear exit. Your Notice of Assessment is requested to confirm there are no large CRA arrears, but minimized income doesn't sink the file.
No Stress Test
Stonefield doesn't apply the federal stress test or average your income down. A private mortgage is a short-term bridge, priced by loan-to-value and position — see current ranges on the rate page.
Matched With a Broker
You're connected with a Stonefield-approved mortgage broker who structures the deal, handles the paperwork, and plans the exit back to conventional lending — usually within one business day.
Frequently Asked Questions
Can I get a private mortgage in Ontario if I'm self-employed and the bank said no?
Do I need two years of tax returns or a certain credit score?
How much can I borrow, and at what rate?
How fast can it close?
How do I start?
Common Questions
A deeper answer to the question self-employed borrowers ask most.
Can a Self-Employed Person Get a Private Mortgage in Ontario?Self-Employed and Need a Mortgage?
Get matched with a Stonefield-approved broker who lends on your equity, not your tax return. Free, no obligation, most borrowers hear back within one business day.