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Your income as lenders generally see it
If you're self-employed in Ontario or paid through your own company, this tool shows the starting point lenders generally use for your income. The tool also lists the documents lenders ask for and the questions to take to your accountant, who decides how you are paid.
Written by Stonefield Mortgage · Reviewed by David Steinfeld, principal broker · Stonefield Mortgage, FSRA mortgage brokerage licence #13722 · [review pending — before this page is indexed]
Published · Updated
Enter the total income from your last two Notices of Assessment to see the starting point lenders generally use, the documents and the questions for your accountant.
How this tool works
- Lenders generally read self-employed and commission income from two years of tax returns and Notices of Assessment; many start from the two-year average, or the more recent year if income fell. Some lenders add back certain expenses; methods vary by lender (general practice, not a rule).
- The figure is not a qualification figure: what you can borrow depends on your whole application and the lender's rules, and is subject to lender approval.
- The tool gives information, not tax advice: salary vs dividends, incorporation and what you claim are decisions for your accountant.
Rules checked 2026-10-26. Estimates only, not an offer or advice; a licensed broker confirms the numbers and every mortgage is subject to lender approval. Everything is calculated in your browser. The amounts you type are never sent to us.
Read next: Self-employed and business owners · How lenders count self-employed income
Questions about the income as lenders see it tool
Why do lenders want two years of returns?
Because a two-year view shows whether income is steady. A drop in the latest year generally weighs more than the average. See why lenders want two years of NOAs.
Should I pay myself differently before applying?
How you pay yourself is a question for your accountant, ideally well ahead of a purchase or renewal. We can show how lenders generally read the result.
What if a bank can't count enough of my income?
Some other lenders read business income more broadly, generally at different terms. We start with banks, credit unions and monoline lenders, then alternative lenders, subject to lender approval.
More tools: Total cost of holding · Rental cash flow · Bridge gap
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