Self-Employed Mortgages in Nova Scotia
Write-offs that save you tax cost you mortgage. Lenders in Nova Scotia read business-for-self income very differently from one another, and which one reads yours generously decides the whole file.
Who this covers
- Sole proprietors, incorporated business owners and commissioned contractors
- Anyone whose line 15000 understates what the business actually earns
- Buyers turned down by a bank that would only look at two years of NOAs
What lenders look for
| Two years of T1 Generals and Notices of Assessment | The default at every A lender. They average line 15000 across two years and lend against that number. |
| Add-backs | Some lenders will add back capital cost allowance, business-use-of-home and one-time expenses. Others will not. This alone can move qualifying income by 20% or more. |
| Stated income | For borrowers who can show the business is real — bank statements, invoices, a GST return — without the tax return supporting the income. Priced above prime and usually capped at 80% loan-to-value. |
| Corporate add-back of retained earnings | If you leave money in the company, a handful of lenders will count a share of it. Most will not. |
Nova Scotia rates for this file
Self-employed files that document income conventionally price on the normal shelves. Stated-income files sit on the uninsured shelf and typically run 50 to 150 basis points above the board.
| Lender | Type | 5-year fixed |
|---|---|---|
| Strive Capital | Monoline | 4.15% |
| MCAP | Monoline | 4.16% |
| First National | Monoline | 4.17% |
| Merix Financial | Monoline | 4.18% |
| RFA Mortgage Corporation | Monoline | 4.19% |
Lowest five-year fixed on the uninsured shelf, 2026-08-21. Full board →
What a typical purchase looks like
| Typical price | $578,000 |
| Minimum down payment | $32,800 |
| DTT | $8,670 |
Averaged across 1 Nova Scotia market we track. Calculate yours →
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Self-Employed mortgages across Nova Scotia
Prices and property tax vary widely inside the province, and both feed your qualification.
| Market | Typical price | Minimum down | |
|---|---|---|---|
| Halifax | $577,503 | $32,750 | Affordability → |
Questions
How long do I need to be self-employed?
Two years is the standard, evidenced by two Notices of Assessment. Some lenders will look at a shorter history if you were previously employed in the same field — moving from salaried electrician to incorporated electrician is a much easier story than a career change.
Can I get a mortgage on stated income?
Yes, though not from a big bank at a posted rate. Stated-income programs exist at several monolines and alternative lenders, usually needing 20% down, a clean credit history and evidence the business is genuine. Expect to pay for it in rate.
Do I need to stop writing off expenses?
Not permanently, but the two years before you buy matter. Reducing write-offs raises your reported income and your tax bill — worth modelling both, because the extra tax is sometimes cheaper than the worse mortgage.
What does it cost to close in Nova Scotia?
Municipal deed transfer tax on a $578,000 purchase comes to $8,670, due in cash on closing. Full Nova Scotia closing costs →
Self-Employed in Nova Scotia?
Send us the file and a licensed broker comes back with what is realistically available — which lenders will take it, at what rate, and what they will want to see.
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