Have a job and own a business? Lenders can use both — here is how.
You do not have to choose between your salary and your business income. This guide explains how lenders combine the two, what counts and what does not, and how to prepare.
You've started an application.
Saves as you go · No credit check · A licensed mortgage professional follows up
1Your T4 salary usually counts in full. Lenders verify it with a pay stub, an employment letter and your recent tax returns.
2Business income counts differently. Corporate revenue is not automatically your personal income — lenders look at what you actually pay yourself, not what the company bills.
3How you pay yourself matters: salary shows up on a T4, dividends are read from your tax return, and retained earnings left inside the corporation may support the story but are not your personal income.
4A newer business can still work, especially when your job income carries the application and the business has been running a year or more.
Get ready
What lenders will ask you for
Recent pay stubs (within 30 days) and an employment letter for your job
T4 slips for your job and for any salary you pay yourself from the business
Your last 2 Notices of Assessment and T1 General returns
If incorporated: T2 corporate returns and financial statements for the last 2 years
Business bank statements (6 to 12 months)
Photo ID and proof of your down payment
Your options
Which kind of lender fits you
Option 1
A lender (bank or credit union)
Best rates when your T4 income and documented business income together support the mortgage.
Option 2
B lender / business-for-self program
When the business is new or its income is hard to prove. Uses bank statements or stated income; slightly higher rate.
Option 3
Use your salary alone
If the business does not help you qualify yet, you can apply on your job income and add the business later.
Avoid these
Common mistakes
!Assuming the business will boost your borrowing without proof — most lenders want 2 years of records before they will count it.
!Mixing personal and business spending in one account, which makes your business income hard to prove.
!Not reporting business income on your taxes, or owing CRA, which lenders will spot.
!Paying yourself mostly in dividends and then expecting a lender to count the full amount.
Take action
Your first steps
1Gather your pay stubs and an employment letter from your employer.
2Download your last 2 Notices of Assessment and T1 General returns from CRA.
3If incorporated, ask your accountant for 2 years of T2 returns and financial statements.
4Keep your business and personal banking separate from now on.
5Start the intake so a broker can combine your salary and business income the way a lender would.
The intake
What your application will ask
Your online application goes one topic at a time and saves every answer and document as you go, so you can stop and come back. It never runs a credit check, and a licensed mortgage professional reviews it and follows up.
For job and business borrowers
How is your income split: salary from an employer, and how much from your own business?
Is the business a sole proprietorship, a partnership, or incorporated?
How long has the business been running, and what does it do?
If incorporated, do you pay yourself salary, dividends, or both?
What does your last 2 years of taxable income show, and does it match what you actually earn?
Can you provide pay stubs, T4s, T1s and, if incorporated, T2s and financial statements?
Plus the basics everyone answers 13
Your full name, email, mobile number and the best time to call.
The city you live in, and whether you are a Canadian citizen, permanent resident, or other status.
Are you applying alone or with someone else? If with someone, their name and how you are related.
Your goal: buy, refinance, renew, take out equity, or consolidate debt?
The property type (house, condo, multi-unit) and the city it is in.
Will you live in it, rent it out, or both?
The purchase price or estimated value, and your target closing or renewal date.
Your down payment or available equity, and where it comes from (savings, RRSP/FHSA, a gift, sale of another property).
Your approximate yearly household income before tax.
Your monthly debt payments: car loans, credit cards, lines of credit, student loans, support payments.
Your own estimate of your credit score: excellent, good, fair, poor, or not sure.
In the last 7 years, any bankruptcy, consumer proposal, collections, or missed mortgage payments?
May the broker contact you? (A credit check is only ever run later, with your separate written consent.)
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Answers
Questions people ask
Can I use my salary and my business income together?
Yes. Lenders usually count your T4 salary in full and add business income once it is proven on your tax returns or corporate financial statements.
Does my corporate revenue count as my income?
No. Lenders do not automatically treat your company revenue as personal income. They look at what you actually pay yourself as salary or dividends, and at how sustainable the business is.
How do lenders treat dividends?
Dividends are usually averaged over the last 2 years from your T1 returns and, for a corporation, your T2 and financial statements. Some lenders apply a gross-up to dividends, which can help you qualify.
Do retained corporate earnings count?
Not directly. Money left inside the corporation is not your personal income, so most lenders do not count it as such. They assess whether the business is healthy enough to keep paying you a salary or dividends.
What if my business is new?
Lenders often still work with you, especially if your job income carries the application. Many want at least 1 to 2 years of business history, but a broker can match you to the right lender.
Do I need 2 years of corporate financial statements?
For most A lenders, yes, if you want the business income counted. If the business is newer, some B lenders will look at bank statements instead.
Does starting the intake affect my credit?
No. The intake is just questions. A credit check is only done later, with your separate permission.
General information, not mortgage, legal or tax advice. Lender rules change and every application is reviewed on its own facts. Your application and documents are stored privately and go only to a licensed mortgage professional at Top Mortgages Inc; they are never sold, and no credit check is run without your separate written consent.