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Business-for-Self Mortgages

Business-for-self financing can be full of challenges. We have many product solutions and can make this process easy.

Have you been in business less than 2 years?

We have programs were we can use a years worth of your business banking statements to qualify you for mortgage approval.

Ever wonder if your declared income from your business is too low, and if you qualify for a mortgage?

Set up a time with the Legacy Mortgage Group. We can review your financial statements. Even though your declared income may be low, your business financials may allow you to qualify for a higher mortgage amount

Retained Earnings vs. Net Income

Higher retained earnings does not mean an easier mortgage approval. As mortgage associates we are looking for higher net income value on your financial statements.  If his value is consistent, or growing, we can establish a positive correlation for your business.

Where do I get my business registration statements?

If you are business owner, and the bank request your business registration statements, don’t sweat it! If you don’t have them on hand we can request them for the internally, or you can get them from your nearest registry.

Accountant Introduction

If you are self-employed and applying for a mortgage, introduce us to your accountant via e-mail. We can get everything we need from your accountant. This will save time and speed up your approval process.

Should I use an accountant?

For self- employed clients, we recommend working with a professional accountant. If you don’t have one, we can recommend one for you. For a small fee, they will advise you on how to run your business with tax efficient strategies, and make it easy for you when you apply for a mortgage.

I have a tax amount owing with the GRA, Will impact my approval?

Most lenders require that your CRA taxes are paid in full and up to date prior to issuing credit. There are some lenders that will support a CRA taxes payout if required.

My business revenues were down this year does that mean I will not qualify for a mortgage?

Not necessarily. We can take a look at you entire financial picture with your business if seasonal, or you had a one off year due to an unforeseeable circumstance.

I do not issue any salary to myself and only dividends, will this impact my approval?

We can take a look at the financial statement of your company to understand the profitability of your company. When we compare that to the shareholder structure, we can understand how much you can comfortably draw out of your business, even if the amount you draw is more or less than that figure.

What if I cannot find my tax documents?

Not a problem! We can get them from you. Let us know, and we will save you the hassle.

I haven’t filled my taxes yet, what do I do?

For mortgages where clients are self employed, it is important for us to understand how the business did in the most recent taxable year. If you have not filled your business returns; ensure that it is done at your earliest convenience. This will make your financing journey a lot smoother.

Minimum Down-Payment

If you are putting less than 20% down-payment on your mortgage, and you are self-employed, a minimum of 5% MUST be from your own savings.

Our Legacy

The Legacy Suite of Services

mortgage brokers in edmonton

Buying your
Next Home

Let us guide you through the journey of purchasing your next home for a stress-free move

edmonton mortgage brokers

Home Buyers

Walking you through the A to Z about buying your first home

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A great way to build wealth is through real estate, and we can walk you through the ins and outs

edmonton mortgage strategy


Transitioning from your old home to your new home can be challenging. We have solutions to bridge the gap.

your Equity

Maximize the value of your home by tapping into the equity you’ve built. From debt consolidation to investment financing, let’s chat about your options.


Building a home is exciting, and comes with many considerations. We have the tools and expertise to make it a smooth process.

Business for
Self Mortgages

Business-for-self financing can be full of challenges. We have many product solutions, and can make this process easy.

Dissolution of
Relationship Financing

Whether you’re going through a separation or need to break away from a partnership, we have the solutions that will satisfy all parties.

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Leo and Sundeep are my go to mortgage brokers for all my clients . Their service and experience are unmatchable. I’m always confident that the deal will get done if they are working on it. Highly recommend both of them !
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To be honest they are the best mortgage group in Alberta and Arshpinder really helped me to get approved for my mortgage. My situation is very hard to get approved for a mortgage but they still managed everything. 100% recommend!
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As a realtor I send all my clients to the Legacy Mortgage Group. They are quick to respond, do a great job in educating clients through the whole process, and get the best options available for what the clients need. They are my #1 recommendation for where to go for any mortgage questions and needs!