In today’s world, being self-employed isn’t unusual. In fact, it’s more common than ever. From gig workers to consultants to entrepreneurs running thriving businesses, millions of Canadians are building their careers on their terms. But when it comes time to apply for a mortgage, self-employed borrowers often hit a frustrating wall: big banks label them “risky.”

At Cannect, we see things differently. Here’s why traditional lenders hesitate—and why we believe self-employed Canadians deserve better.

The Big Bank Mindset: Why You’re Considered “Risky”

Banks love predictability. Their ideal borrower is someone with a steady 9-to-5 job, a long work history, and consistent pay stubs. For self-employed individuals, income can fluctuate monthly, year to year—even if the overall earnings are strong.
Here are a few reasons banks might decline or lowball a mortgage offer for self-employed borrowers:

Inconsistent Income: Your revenue may spike in some months and dip in others, making it harder for banks to assess your “stability.”

Aggressive Tax Planning: Many self-employed people write off business expenses to reduce their taxable income. While that’s smart accounting, it can make your net income look artificially low.

Lack of Standard Documentation: No T4 slips? No corporate salary? Banks don’t like that.

Overly Rigid Guidelines: Traditional lenders rely on cookie-cutter qualification criteria that don’t reflect the real financial health of many business owners.

The result? You either get turned down or offered a mortgage with unfavorable rates and terms.

Why Cannect Sees You Differently

We get it—entrepreneurship is the backbone of innovation and growth. And just because you don’t fit the mold doesn’t mean you’re not creditworthy. At Cannect, we specialize in understanding you—not just your paperwork.

Here’s what makes us different:

We Look Beyond the Tax Return

Instead of just focusing on your reported net income, we look at the full picture: gross revenue, business performance, and your actual cash flow. We work with you (and your accountant, if needed) to present your financials in a way that reflects your real borrowing power.

We’re Not Tied to Bank Bureaucracy

Since we’re not a bank, we’re not limited to the same rigid policies. We have access to a wide range of lending options—including our own Mortgage Investment Corporation (MIC)—so we can find or create a solution that fits you.

We Prioritize Flexibility

Shorter income histories? Multiple revenue streams? We can work with that. Our approval process is designed to be flexible, fast, and focused on your strengths, not your limitations.

We Work For You, Not Commission

Unlike many brokers or bank reps, our team isn’t paid based on which product you choose. We’re here to offer you unbiased advice that’s truly in your best interest.

You Deserve a Mortgage That Works for You

Being self-employed means you’ve taken control of your career and finances. You’ve built something for yourself—and that’s something to be celebrated, not penalized.

At Cannect, we’re proud to support self-employed borrowers with customized mortgage solutions that match their success. Whether you’re buying your first home, refinancing, or tapping into your home equity, we’ve got your back.

Let’s Talk

Don’t let big bank rules hold you back. If you’ve been told “no” by a lender—or just want to explore your options—get in touch with us today. Let’s build a mortgage solution that works for you.

Watch our Make Money Count videos to help you make smarter mortgage decisions.