Self-employed borrowers prove income with tax documents and prove a stable business with records. CMHC lists Notices of Assessment with the T1 General and statement of business activities. Its accepted business evidence includes GST returns, business bank statements, articles of incorporation, and review engagement or audited financial statements. CMHC recommends 24 months’ experience, with flexibility for the recently self-employed.
What CMHC lists
For its insured self-employed program, CMHC lists the following income documents: a Notice of Assessment with the T1 General, proof of income, and the statement of business activities (T2125). Self-employment income for sole proprietors and partnerships may be grossed up by 15% or adjusted by adding back eligible deductions.
To show how long the business has operated and that it is stable, CMHC lists documents including:
- tax returns with Notices of Assessment;
- business credit reports;
- GST returns;
- active business bank account statements;
- a review engagement financial statement signed by a practising accountant;
- a business licence or articles of incorporation;
- audited financial statements.
CMHC recommends a minimum of 24 months operating the business, or experience in the same line of work, with flexible options for the recently self-employed.
Lenders and insurers set their own document lists, and these change. Treat CMHC’s list as the outline and confirm the exact requirements with your lender or mortgage broker before you apply.
What to have ready
- Two years of personal Notices of Assessment and T1 Generals. Lenders commonly ask for more than one year, and it is easier to have them ready than to request them later.
- If incorporated: the corporation’s year-end financial statements for the same years, with the accountant’s report at the front.
- Recent business bank statements.
- A personal net worth statement: many lenders ask for one, and building it shows you where you stand.
Questions people ask
What documents do self-employed borrowers need for a mortgage in Canada?
CMHC lists income verification such as Notices of Assessment with the T1 General and the statement of business activities (T2125), and evidence of how long the business has operated, which can include tax returns with NOAs, GST returns, business bank statements, a business licence or articles of incorporation, and review engagement or audited financial statements. Individual lenders set their own lists.
Do I need audited statements to get a mortgage if I am incorporated?
Usually not. Lenders commonly ask incorporated borrowers for corporate financial statements alongside personal tax documents. CMHC’s list includes review engagement statements signed by a practising accountant and audited statements among the acceptable evidence. Ask your lender or broker which level they accept before paying for more than you need.
Sources
- CMHC, Self-employed: mortgage loan insurance. Read 25 October 2026.