Google Review Excerpt
Qualified for more than we aimed for
“Elena has gone above and beyond to help my wife and I with qualifying for a mortgage. She helped us get above our goal.”
Francis Ibana
CPA | Mortgage Professional
Your business expenses affect how a lender reads your income.
For sole proprietors, the income shown on a tax return may need further analysis before it can be compared with a lender’s qualification rules.
How your income is reviewed
I review revenue, expenses, income history and supporting documents. Eligible adjustments depend on the lender and program. My CPA background helps me understand the figures and present a clear, supported application.
What to bring to the first conversation
Know your approximate business and personal income for the previous two years, or the shorter period available. Tax returns do not need to be in hand to start. We can identify the relevant documents after discussing your situation.
Start planning now
Two years of income is not a universal threshold. A review can establish whether an option is available today or what preparation may improve your position.
Explore your next step
Self-employed mortgages · Incorporated business owners · First-time buyers · Renewals and refinances · Guides and questions
Expertise in Practice
Selected experiences shared by clients.
Google Review Excerpt
A complicated case, handled start to finish
“We had a complicated case but Elena was able to take care of it and handled it from start to end! Thank you Elena for helping us with finding a mortgage for our first home purchase!”
Alexander Golenishchev
The Documents, in Plain Language
- T1 General
- Your personal income tax return, showing your income and deductions.
- T2 Return
- Your corporation’s income tax return. It helps explain the business behind your personal income.
- Notice of Assessment (NOA)
- The statement the Canada Revenue Agency sends after assessing your tax return.
- Add-Backs
- Expenses a lender may allow to be added to qualifying income under its policies. An accounting expense can be treated differently for mortgage qualification; eligible adjustments vary by lender.
Discuss your mortgage plans.
Begin with your goal, your numbers and your questions.