Gurnik Singh – Mortgage Broker understands how rewarding – and challenging – it can be to be your own boss. While self-employment offers freedom and flexibility, it also brings unique hurdles when applying for a mortgage. Traditional lenders often prefer applicants with predictable income, making it more difficult for freelancers, contractors, and business owners to qualify under standard criteria.

If you're applying for a self-employed mortgage in Vancouver, the good news is that you absolutely can get approved—it just requires a different approach. Lenders will typically look beyond just your credit score. They’ll want to see at least two years of consistent income, supported by tax returns, business financials, or bank statements. The more organized and transparent your documents, the stronger your application.

Many self-employed individuals make the mistake of minimizing taxable income to reduce tax liability. While that may help during tax season, it can work against you when trying to qualify for a mortgage. Lenders need to see that your income is enough to manage mortgage payments comfortably.

To improve your chances, try the following:

• Keep personal and business finances separate.

• Reduce outstanding debts before applying.

• Save for a larger down payment.

• Work with a mortgage broker who understands the self-employed market.

Getting a self-employed mortgage in Vancouver doesn’t have to be overwhelming. With the right preparation and expert advice, it’s absolutely achievable. Every lender has different policies, and navigating them can be complex—but you don’t have to do it alone.

Whether you're a full-time freelancer, a startup founder, or run a side hustle, the key to success is understanding your options and working with a broker who can advocate for you.

For expert help every step of the way, contact Gurnik Singh – Mortgage Broker to get started on your path to homeownership.