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Mortgage Squad Advisors
Self-employed rates

Self-employed mortgage rates in Canada.

Today’s best 5-year fixed is 3.94% and variable 3.60%. With 2 clean years of T1/NOA, self-employed A-lender rates are essentially the same as a salaried borrower’s — we shop 50+ lenders to land you there.

Rates reviewed by the Principal Broker, Mortgage Squad Advisors · FSRA #13737| Updated Jun 16, 2026
As of Jun 16, 2026. Your rate depends on your file. O.A.C.

What rate can a self-employed borrower actually get?

It depends almost entirely on which lender tier your file lands in. On an A-lender full-doc or stated-income file with 2 clean NOAs, your rate is essentially the same as a salaried borrower’s — a 0–10 bps premium at most. There’s no special “self-employed penalty” once the income documents are clean. We put your file out to 50+ lenders and bring back the lowest A-pricing you qualify for.

When write-offs depress reported income or you’re short of two clean years, the file moves down a tier. B-lender alt-A trades roughly +50–150 bps for income flexibility — a reasonable bridge, not a penalty. Private sits at +200–500 bps, fast and equity-based, for the files A and B can’t place yet. The important part: most BFS clients start on B or private and refinance to A-pricing within 1–2 years once two clean NOAs are on file. Read our self-employed mortgage guide for the full documentation checklist, and our CRA debt guide if you’re carrying a balance owing.

Self-employed guideCRA debtAll rates

Self-employed rates — FAQ

Do self-employed borrowers pay higher mortgage rates?
Not on an A-lender file with full or stated documentation. With 2 clean years of T1 Generals and NOAs, business-for-self rates are essentially the same as a salaried borrower’s — a 0–10 bps premium at most. The higher rates you’ve heard about apply to alt-A (B-lender) files (+50–150 bps for income flexibility) or private files (+200–500 bps, equity-based). We shop all three so you land at the lowest tier you qualify for. See our self-employed mortgage guide.
What is stated income and what rate does it get?
Stated income lets a self-employed borrower qualify on a reasonable, documented estimate of income rather than line 150 of the NOA alone — useful when write-offs depress your reported income. On an A-lender stated-income program (typically 10%+ down, strong credit, 2+ years in business), the rate is close to standard A-pricing — often only a few bps above a full-doc salaried rate. Heavier stated-income files move to B-lenders at a +50–150 bps premium.
How do add-backs affect my rate and approval?
Add-backs raise the income a lender will use by adding non-cash or one-time deductions (depreciation/CCA, business-use-of-home, one-time capital costs) back onto your net income. More usable income means a stronger debt-service ratio, which keeps you on A-lender pricing instead of being pushed to a higher-rate alt-A or private tier. Add-backs improve approval and tier more than the headline rate itself. If you carry a balance with the CRA, read our CRA debt mortgage guide first.
Can I refinance to a lower rate once I have 2 clean NOAs?
Yes — this is the standard path. Most BFS clients start on a B-lender or private mortgage to get into the property, then refinance to A-lender pricing within 1–2 years once they have two clean years of NOAs showing sufficient income. We build the exit to A-pricing into the plan from day one so you’re not stuck paying the premium longer than necessary.

Get your self-employed rate.

We shop your BFS file across 50+ lenders — A-lender, alt-A, and private — and land you at the lowest tier you qualify for. No bureau pull to start.