CRA-assessed income too low to qualify for a mortgage? Sarah Colucci finds lenders who qualify self-employed Ontarians using gross revenue, bank statements, and business financials — not just line 15000 of your T1. Call 647-773-4849.
Mortgage options in Scarborough depend on the property, requested loan amount, verified income, credit history and the lender's current guidelines. The local average home price is approximately $820,000, but individual properties and neighbourhoods vary widely. Sarah reviews the complete application rather than relying on one rate or one automated rule.
Sarah Antonia Colucci is a licensed Mortgage Agent Level 2 with access to more than 50 lenders. She compares available mortgage structures, explains costs and restrictions, and identifies the documents a lender will need before an application is submitted. The initial consultation is free, and recommendations remain subject to lender review, property acceptance and full underwriting.
A useful review normally includes the mortgage balance or purchase price, available equity or down payment, household income, monthly obligations, credit history and the client's short- and long-term plans. Looking at these details together helps distinguish a low headline rate from a mortgage that actually fits the client's situation.
The three main qualification methods are: (1) Net income from T1 General tax returns (2-year average), (2) Gross-up or add-back programs that add non-cash deductions back to income, and (3) Gross revenue or stated income programs for borrowers with strong revenue but heavily optimized tax returns. Banks typically use only method 1. I access all three depending on your business structure.
Yes — in some cases. If you transitioned from salaried employment in the same industry, some lenders count your combined history. With 20%+ down and strong credit, more lenders open up. Some alternative lenders will use 1 year of self-employment income with bank statements as supporting documentation. I'll tell you honestly what's achievable given your specific situation.
Typically: 2 years T1 General tax returns, 2 Notices of Assessment, 2 years of financial statements (if incorporated), articles of incorporation or business registration, and 3–6 months of business bank statements. For stated income programs, a signed income declaration and industry income documentation may suffice. I'll build your exact documentation list on the first call.
Not necessarily. With strong documentation and correct lender matching, many self-employed borrowers qualify at identical rates to salaried employees at A-lenders. If A-lender qualification isn't achievable, B-lender rates are typically 0.25%–0.75% higher. The goal is always to find the best rate your documentation actually supports.
Self-employed Scarborough homebuyers and homeowners have more mortgage options than banks suggest. Sarah Antonia Colucci of Colucci Mortgages specializes in self-employed qualification strategies for Scarborough and Toronto business owners, contractors, and incorporated professionals. Whether you've been declined, are applying for the first time, or need to renew with changed income documentation, Sarah Antonia finds the right lender for your income type. Call 647-773-4849 for a free, confidential income review.
For a personalized review, call Sarah at 647-773-4849 or request a free consultation. Rates, qualification and product availability can change without notice and are confirmed only through a complete lender application.