Short answer: Bring two years of T1 Generals and NOAs, your business documents, down payment statements, debt details and your purchase goal. A broker reviews your structure and income sources, calculates qualifying income the way lenders will, checks debts, down payment and credit, picks the right lender lane, and sets a realistic budget. Do it before you shop so gaps are fixed early.
What’s Different
More document review and income analysis: business structure, salary vs dividends or net income, debts, down payment and lender matching. The goal is a realistic range, not an online calculator guess.
What to Prepare
- Personal tax documents: T1 General and NOA
- Business documents: registration or corporate filings
- Down payment statements
- Monthly debt details
- Your purchase goal and timeline
→ Related: Self Employed Documents Checklist
What Happens
- Review of business structure and income sources
- Review of tax documents and qualifying income
- Review of debts, down payment and credit
- Lender lane selection
- Budget and next steps
Why It Matters Before an Offer
It sets a realistic budget, finds document gaps early, keeps you from chasing homes outside your range and reduces financing surprises after your offer is accepted. A pre-approval isn’t a final approval: the property and verified documents still have to check out.
Self employed mortgages · Book a call
Frequently asked questions
Is self employed pre-approval different from employee pre-approval?
Yes. It involves more document review, deeper income analysis and careful lender matching, so it takes longer but gives a more accurate number.
Can online calculators estimate self employed borrowing power?
Not reliably. They don't account for how lenders average income, treat write offs or view your business structure.
Can I get pre-approved before my taxes are filed?
Sometimes, but filed returns with Notices of Assessment make the pre-approval much stronger. Lenders prefer CRA assessed income.
This article is general information, not personal financial advice. Rates, rules and programs change. Talk to a licensed mortgage broker about your situation. Lacroix Mortgage Group is licensed and powered by Mortgage Connection Inc.
Lacroix Mortgage Group, licensed and powered by Mortgage Connection Inc.
Tim Lacroix, Mortgage Broker · Alberta licence CON-00005179 (RECA) · BC licence 503533 (BCFSA)
Call or text (403) 648-1541 · hello@lacroixmortgage.com · Calgary, Alberta