Self-Employed Income Analysis
Self-Employed Calculator
Calculate your qualifying income for mortgage applications using Notice of Assessment and business addbacks.
Self-Employed Income Calculator
Income Analysis
Qualifying Income
$115,000
Lower of latest year or 2-year average, plus add-backs
3-Year Average (Reference)
$108,333
Some lenders use for trend analysis
Income Calculation Method
Lenders typically use the 2-year average when income is stable or rising, and the lower most-recent year when income is falling, plus acceptable add-backs.
Important: Different lenders use different calculation methods. Always confirm the specific approach with your lender. This is for educational purposes only.
Self-Employed Documentation Tips
A-Lender Documents
- • 2 years T1 Generals
- • 2 years Notice of Assessment
- • 2 years Financial statements
- • Business license/registration
- • Articles of incorporation
B-Lender Documents
- • 12 months business bank statements
- • Credit score typically 550–600+ (varies by lender)
- • Property appraisal
- • Income stated, supported by bank statements
- • NOA often still requested to confirm no CRA arrears
Common Addbacks
- • Depreciation/CCA
- • Personal use of business expenses
- • One-time write-offs
- • Non-cash expenses