Today’s Mortgage Rates updated as of October 17, 2025 7:37 pm
5-year fixed*
5-year Variable*
*Insured loans. Other conditions apply. Rate in effect as of today.
Being self-employed offers unparalleled freedom, but it can sometimes make securing a mortgage challenging. At Citadel Mortgages, we specialize in providing mortgage solutions designed for self-employed Canadians, ensuring that your unique financial situation doesn’t stand in the way of homeownership.
Whether you’re a first-time homebuyer, refinancing, or renewing your mortgage, understanding current trends and available options helps you make informed financial decisions.
This guide focuses on helping you navigate the Canadian mortgage market, offering insights into current rates, strategies for securing the best deal, and regional trends.
Mortgage brokers play a pivotal role in helping Canadians find tailored financing options, providing expert advice, and navigating the often complex mortgage market.
For more detailed information on mortgage types, costs, and rights, consult the Government of Canada – Financial Consumer Agency of Canada (FCAC).
A self-employed mortgage is tailored to individuals who earn income outside traditional employment structures. This includes entrepreneurs, small business owners, freelancers, and contractors. These mortgages consider non-traditional income sources and often feature flexible qualification requirements.
Irregular Income
Limited Traditional Documentation
Tax Deductions
Perceived Risk
Irregular Income
Limited Traditional Documentation
Tax Deductions
Perceived Risk
In addition to reducing the amortization period and raising the minimum down payment required to purchase a home, in 2014, the Canadian Mortgage and Housing Corporation (CMHC) discontinued mortgages for those who are self-employed without third-party validation. Before that, self-employed Canadians and contractors only had to state their income. But not anymore.
This made the homeownership dream for hundreds of thousands of Canadians more difficult. That’s because 2.76 million Canadians are self-employed; a whopping 15% of the country. Moreover, more and more Canadians step into the ranks of the self-employed every year.
Unfortunately, big banks don’t help entrepreneurs and view them as risky. Because you are a self-employed entrepreneur and might draw a smaller income for tax purposes, the banks think there’s a higher chance that you’ll default on your mortgage.
At Citadel Mortgages, we pride ourselves in being experts when it comes to arranging self-employed mortgages because we are self-employed just like you. If you are a Self-employed, we have a mortgage solution for you.
To qualify for a self-employed mortgage, you’ll typically need:
Proof of Income
Good Credit History
Down Payment
Business Verification
Yes! Lenders often consider bank statements, invoices, or contracts in place of traditional income proof.
The amount depends on your credit score, income documentation, and down payment size.
Are the interest rates higher for self-employed mortgages?
Securing a mortgage as a self-employed individual doesn’t have to be difficult. At Citadel Mortgages, we simplify the process by offering personalized solutions and flexible options that fit your unique financial situation. Let us help you turn your dream of homeownership into a reality.
At Citadel Mortgages, we specialize in helping Canadians navigate the complexities of mortgage rates and terms. Whether you’re looking for a 6-month fixed rate, a 5-year variable, or something in between, our team is here to provide personalized guidance and access to the best rates in Canada.