Primary Mortgages
Equity Products
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Get Free AdviceProfessionals who work for themselves encounter many obstacles when attempting to secure conventional mortgage financing. To make the mortgage process easier for our clients, EquityRich concentrates on home equity. Our equity-based mortgage solutions offer quick and easy, flexible home financing options to business owners, including independent contractors and small business owners.
A self-employed mortgage from EquityRich is approved on the equity in your home. We lend directly on Toronto-area property and, where another lender fits the file better, we can broker it. Banks, by contrast, still ask for extensive income documentation that self-employed individuals often can’t provide. At EquityRich, we provide self-employed mortgages through property equity instead of income or credit checks.
Your ability to qualify for a self-employed mortgage with us depends on the equity in your home, not your tax returns or business financials. This makes our solution ideal for independent contractors, freelancers, small business owners, and anyone with non-traditional income sources.
Any self-employed homeowner in Ontario with sufficient equity in their property. Whether you’re a sole proprietor, independent contractor, or small business owner, our equity-based approach means your business structure or income variability won’t prevent you from accessing the financing you need.
The initial step involves determining the loan amount needed and the intended use of the funds, which can be home purchase, refinancing, business, or personal equity access.
Self-employed applicants need to present financial documents to lenders for assessment. The documentation requirements for self-employed applicants differ between lenders but typically include tax returns, bank statements, proof of business ownership, and additional financial records.
The lender needs a professional appraisal to establish the current market value of the property. The appraisal process determines property value, which helps calculate available equity and establishes the loan-to-value ratio.
The lender examines the application documents and property appraisal to create mortgage terms for the applicant. The proposed mortgage terms include the loan amount and interest rate, together with repayment terms and all applicable fees.
The preparation of legal documents follows the terms agreement before they undergo review. The mortgage becomes final after all legal requirements are satisfied and the funds become available for disbursement.
Homeowners come to us because we underwrite the property first. With strong equity in a home, your write-offs and irregular deposits stop being a problem. As a direct equity-based lender we fund many files ourselves, and because we are also licensed to broker, we can place your file with a partner lender when that gets you better pricing or a structure we don’t offer in-house.
We provide self-employed mortgage solutions that address the needs of business owners and independent workers while bypassing traditional bank delays and complications. EquityRich serves as your trusted mortgage provider for all your needs, including reverse mortgages and Private Loans and second mortgages throughout Canada.
The freedom of working for yourself rarely fits the income box a bank wants to tick. A self-employed mortgage in Toronto built on equity lets you put your home’s value to work without selling. Owners across the GTA use it to consolidate high-interest debt, fund renovations, inject cash into a business, cover a tax arrears bill from the CRA, buy an investment property, or build a basement apartment or laneway suite to add rental income.
We lend on properties in Toronto and right across the surrounding regions, including Mississauga, Brampton, Markham, Vaughan, Oakville, Ajax and Hamilton. A self employed mortgage in Ontario works the same way wherever your home sits: the more equity you hold, the more flexibility we have on approval and terms.
If you have little or no provable income at all, our no income mortgage program may be the better route, and contractors who want a fully equity-driven file often pair this with a mortgage for business owners structured outside the banks.
Instead of asking for two years of clean notices of assessment, we look at bank statements, the equity in your property, and the overall picture of your business. This stated income approach suits incorporated owners, sole proprietors, commission earners and gig workers in Toronto whose tax returns understate what they actually bring in each month.
No credit check. No income verification. Funds in as little as 48 hours.
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No credit check. No income verification. Our team is ready to help you unlock the value of your home.