Monitor our most recent coronavirus (COVID-19) updates.

Skip to content
site logo Canada Mortgage
and Housing Corporation
  • Sign In or Register
  • FRANÇAIS
  • Hamburger Icon MENU
Hamburger Icon MENU
× FRANÇAIS
  • Home
  • Buying
    • Homebuying Step by Step
      • Decide if Homeownership is Right for You
      • Check if You are Financially Ready to Own a Home
      • Finance Your Home
      • Find the Right Home
      • Make an Offer and Close the Deal
      • Maintain Your Home and Protect Your Investment
    • Condominium Buyer's Guide
      • Chapter 1: Condominium Basics
      • Chapter 2: Condominium Governance
      • Chapter 3: The Pros and Cons of Condominium Ownership
      • Chapter 4: Buying a Condominium
      • Chapter 5: Checklists, Tips and FAQ's
      • Tips for Buying a New Condominium
      • Tips for Buying a Resale Condominium
      • Checklist for Buying a New Condominium
      • Checklist for Buying a Resale Condominium
      • Condominium Purchase and Recurring Costs
      • Physical Evaluation Checklist (For Resale Units)
      • Questions to Ask Advisors and Condominium Experts
      • Frequently Asked Questions
      • Glossary
      • Provincial and Territorial Fact Sheets
        • Alberta Fact Sheet
        • British Columbia Fact Sheet
        • Manitoba Fact Sheet
        • New Brunswick Fact Sheet
        • Newfoundland and Labrador Fact Sheet
        • Northwest Territories Fact Sheet
        • Nova Scotia Fact Sheet
        • Nunavut Fact Sheet
        • Ontario Fact Sheet
        • Prince Edward Island Fact Sheet
        • Quebec Fact Sheet
        • Saskatchewan Fact Sheet
        • Yukon Fact Sheet
    • Financial Information and Calculators
      • Mortgage Fraud
      • Mortgage Planning Tips
      • Plan and Manage Your Mortgage
      • Your Credit Report
      • Government of Canada Programs to Support Homebuyers
      • Your Home Value
    • Seniors Housing
      • Housing options for Seniors
      • Housing and Finance Tips
      • Mortgage Financing Options for People 55+
      • Preventing Fraud and Financial Abuse
    • Newcomers
    • Mortgage Loan Insurance for Consumers
      • COVID-19: Understanding Mortgage Payment Deferral
      • What is CMHC Mortgage Loan Insurance?
      • What are the General Requirements to Qualify for Homeowner Mortgage Loan Insurance?
      • FAQs — Mortgage Loan Insurance
      • CMHC Mortgage Loan Insurance Costs
      • CMHC Green Home
      • CMHC — Home Renovation Financing Options
  • National Housing Strategy
    • What is the strategy?
      • About the initiatives
      • How to apply
      • Help & Resources
      • Priority areas for action
      • Glossary
    • The First-Time Home Buyer Incentive
    • Shared Equity Mortgage Provider Fund
      • Preconstruction Loans
        Stream 1
      • Shared Equity Mortgages (SEM)
        Stream 2
    • Federal/Provincial/Territorial Housing Agreements
    • Federal Community Housing Initiative
    • Federal Lands Initiative
    • National Housing Co-Investment Fund
    • Rental Construction Financing
    • Affordable Housing Innovation Fund
    • Other funding and financing opportunities
    • The Community Housing Transformation Centre
    • Community-Based Tenant Initiative
    • NHS Demonstrations Initiative
    • Solutions Labs
      • Social Innovation Labs Resources
      • Solution Lab Consultant Information
    • Collaborative Housing Research Network
    • NHS Research and Planning Fund
    • CMHC Housing Research Scholarship Program
    • CMHC Housing Research Awards
    • Housing Supply Challenge
      • Round 1: Housing Supply Challenge
    • Rapid Housing Initiative
      • Rapid Housing Initiative Webinar
    • National Housing Conference
    • NHS Housing Needs Data
    • College of Reviewers
  • Renting
    • COVID-19: Eviction Bans and Suspensions to Support Renters
    • COVID-19: CECRA for small businesses
    • I Want to Rent
      • Things to Consider Before Renting
      • Types of Housing for Rent in Canada
      • Finding or Advertising a Rental Property
      • Visiting the Rental Property
      • Lease and Rental Agreements
      • Signing the Lease
      • Credit Checks and Bad Credit
      • Rental Payments and Deposits
      • Roommates and Pets
    • I Am Renting
      • Moving Day
      • Landlord/Tenant Responsibilities
      • Inspections
      • Maintenance & repairs
      • Complaints & evictions
      • Rent Increase
      • When you can't pay Rent
      • Renewing or terminating the lease
      • Moving Out
  • Developing and Renovating
    • Funding Opportunities
      • First Nations Development Funding
        • Direct Lending Program for First Nation Communities
        • Funding Opportunities Tool for Indigenous Housing
        • Insured Loans for On-Reserve First Nation Housing
        • On-Reserve Non Profit Housing Program (Section 95)
        • Proposal Development Funding (PDF) for First Nation Communities
      • On-Reserve Renovation Programs
        • Emergency Repair Program (ERP)
        • Home Adaptations for Seniors' Independence (HASI)
        • Residential Rehabilitation Assistance Program (RRAP) – Regular
        • Shelter Enhancement Program (SEP)
      • Seed Funding
      • Preservation Funding for Community Housing
      • COVID-19: Loan Payment Deferrals for Indigenous Clients
    • Testimonials
    • Develop New Affordable Housing
      • Manufactured Housing: Affordable Quality Homes
      • Programs and Information
        • About Affordable Housing in Canada
        • Affordable Housing in Canada's North
        • Affordable Housing Programs Across Canada
        • Reno/Retro 2016: Funding for Existing Social Housing
        • Housing Action Plans: A Guide for Municipalities
        • Development Checklist for Affordable Housing
        • Housing Development Resources
    • Indigenous Housing
      • Housing Internship Initiative for First Nation and Inuit Youth (HIIFNIY)
      • Indigenous Advisory Council
      • Our Work With First Nation Communities
      • Shelters Initiative for Indigenous Women and Children
        • Funding Available for Shelters On-Reserve
        • Shelters in the Territories
      • Keeper of My Home Learning Resource
    • Developing Sustainable Housing
      • Maintenance and Resource Efficiency for Buildings
      • Webcast: Advancing Sustainable and Affordable Housing in Canada
      • Energy and Water Savings Case Studies
    • Accessible and Adaptable Housing
      • Universal Design for New Housing Units
      • Secondary Suites
      • Accessible Housing by Design
      • Aging in Place
        • Aging in Place Success Stories
        • Housing a Senior Population: The Economic and Social Benefits
        • Hiring a Contractor
      • Universal Design and Adaptable Housing Models
    • Provincial/Territorial Agreements
      • Bilateral IAH Agreements and Public Reporting
      • National IAH Funding Table
      • Investment in Affordable Housing (IAH)
    • External Links
  • Managing and Maintaining
    • Managing Affordable Housing
      • Connect with a Housing Solutions Specialist – Multi-Unit
      • Affordable Housing Project Profiles
      • Housing Management Hub
        • Contractors and Suppliers
        • Evictions and Expulsions
        • Capital Replacement Planning
        • Governance for Housing Organizations
        • Steps for Managing Vacancies
          • Repair and clean the unit
          • Identify or Advertise for Applicants
          • Welcome new residents
        • Policy Information
          • Why are policies important
          • Policy Enforcement
          • Policies Your Housing Organization Needs
          • Developing Effective Policies
        • Tendering Contracts
    • Manage First Nation Properties
      • First Nation Housing Policies Development Guide
        • Decide if You Need a Written Policy
        • Research the Housing Policy
        • Write and Review the Housing Policy
        • Develop the Housing Policy Implementation Plan
        • Get Approval for the Housing Policy
        • Implement and Monitor the Housing Policy
        • Revise or Cancel the Policy as Required
      • Tenant Records
      • Building Code Compliance for First Nation Housing
      • Finances
        • Differences Between the On-Reserve Non-Profit Housing Program Pre-1997 and Post-1996
        • Understanding Operating Agreement Terms
      • Maintenance Solutions
        • How to Maintain a Heat Recovery Ventilator
        • Maintenance Planning Guide for First Nation Communities
        • Mould in Housing
          • Information for Occupants
          • Information for Housing Managers
          • Information for Builders and Renovators
          • Flood Cleanup and Mould Prevention
          • Mould Cleanup at a Glance: Infographic
          • Mould in Housing at Glance
      • Role of a First Nation Housing Manager
    • Maintenance Funding and Information
      • Governance and Finance Information Series
      • Loans Administration and Direct Lending
      • Off-Reserve Aboriginal Social Housing
      • Renovation Programs for On-Reserve Housing
      • Tendering Contracts Information Series
    • Co-operative Housing Guide
  • Data and Research
    • CMHC Reports Calendar
    • Publications and Reports
    • Housing Market Information Portal
    • Data Tables
      • Household Characteristics
      • Housing Market Data
      • Housing Market Indicators
      • Mortgage and Debt Data
      • Rental Market Data
    • Housing in Canada Online (HiCO)
    • Core Housing Need
    • Mortgage Deferral Series
    • Survey Notices
    • CMHC Library
    • Consumer Surveys
      • 2019 Mortgage Consumer Survey Results
      • 2018 Mortgage Consumer Survey Results
        • Homebuyers insights
        • Renewers insights
        • Refinancers insights
        • Financial Literacy
        • Affordability
        • Home financing choices
        • MCS blog
    • Survey Methods
    • CMHC Licence Agreement for the Use of Data
  • Finance and Investing
    • Insured Mortgage Purchase Program (IMPP)
    • COVID-19: CECRA for small businesses
    • Mortgage Loan Insurance
      • Mortgage Loan Insurance Homeownership Programs
        • CMHC Mortgage Loan Insurance Costs
      • Rental Housing Solutions
      • Contact Mortgage Loan Insurance
      • Homebuying Calculators
        • Mortgage Calculator
        • Affordability Calculator
        • Debt Service Calculator
      • The Resource
        • I Can’t Pay my Mortgage, What are my Options?
        • Home Buying Step by Step
      • Default, Claims and Properties for Sale
      • Mortgage Fraud
      • Underwriting Centre
      • Consumer Survey Results
      • NHA Approved Lenders
      • Calculating GDS / TDS
      • emili
        • emiliTRACKER
      • Client e-Update
      • Multi-Unit e-Update
      • Regional CMHC Industry Sessions
    • Canada Mortgage Bonds
    • NHA Mortgage Backed Securities
    • Canadian Registered Covered Bonds
      • How to Become a Registered Issuer
    • Blockchain in the housing industry
  • CMHC E-Newsletters
    • Affordable Housing E-newsletter
    • Housing Research E-newsletter
    • Indigenous and Northern Housing E-newsletter
    • Client e-Update
    • Multi-Unit e-Update
  • CMHC Library
  • Careers
  • About CMHC
    • CMHC’s Story
    • Management and Governance
      • Board of Directors and Committees
      • Our Management Committee
      • Pension Governance
        • Pension Overview
        • Key Roles and Responsibilities
        • Annual Reports
    • Corporate Reporting
      • Program Evaluation
      • CMHC Annual Report
      • Joint Auditors Special Examination Report to CMHC Board 2018
      • Quarterly Financial Reports
      • Transparency
        • Access to Information and Privacy Protection
        • Briefing Materials
        • Procurement
          • CETA
          • Disclosure of contracts over $10,000
        • Travel, hospitality and conference expenditures
          • Annual travel, hospitality and conference expenditures
      • CMHC’s Insured Mortgage Deferral
      • Summary of the Corporate Plan
    • Contact Us
      • CMHC Departments
        • Connect with a Housing Solutions Specialist – Multi-Unit
        • Contact Mortgage Loan Insurance
      • Holiday Service Hours
    • Speakers Bureau
    • Careers
    • Partnerships
  • Housing Observer
  • Media Newsroom
    • Coronavirus (COVID-19) Update
    • Media Relations
 
Save Icon

SAVE TO MY FOLDER

CMHC Introduces Changes to Help Self-Employed Canadians Own Their Own Home

SAVE
Close this Window   |   Manage my Folder
Save Icon

SAVE TO MY FOLDER

CMHC Introduces Changes to Help Self-Employed Canadians Own Their Own Home

Done Done!
Close this Window   |   Manage my Folder
Share icon

Share via

  • Facebook
  • LinkedIn
  • Mail
  • Twitter
  • print
Share icon

Share via

  • Facebook
  • LinkedIn
  • Mail
  • Twitter
  • print
share icon

Mail-blue Share via Email

Did You Know?

You can include an email signature?

Register | Sign In

×
Google Captcha Loader
share icon

Mail-blue Share via Email

Done Done!
Close this window
  • Home Breadcrumb Chevron
  • Media Newsroom Breadcrumb Chevron
  • 2018

CMHC Introduces Changes to Help Self-Employed Canadians Own Their Own Home

Ottawa, July 19, 2018

Save page to My Folder Share this page

Self-employed Canadians are key contributors to strong and vibrant communities and make up about 15% of Canada’s labor force. However, they may have difficulty qualifying for a mortgage as their incomes may vary or be less predictable.

In line with the National Housing Strategy’s mission to address the housing needs of all Canadians, Canada Mortgage and Housing Corporation (CMHC) is making a number of changes aimed at giving lenders more guidance and flexibility to help self-employed borrowers:

  • Providing examples of factors that can be used to support the lender’s decision to lend to self-employed borrowers who have been operating their business for less than 24 months, or in the same line of work for less than 24 months such as acquiring an established business, sufficient cash reserves, predictable earnings and previous training and education; and
  • Providing a broader range of documentation options to increase flexibility for satisfying income and employment requirements when qualifying self-employed borrowers such as the Notice of Assessment (NOA) accompanied by the T1 General, the CRA Proof of Income Statement and the Statement of Business or Professional Activities (T2125) to support an “add back” approach for grossing up income for sole proprietorship and partnerships.

These enhancements, which apply to both transactional and portfolio insurance, will take effect October 1, 2018.

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

For more information, follow us on Twitter, YouTube, LinkedIn and Facebook.

Quote

“Self-employed Canadians represent a significant part of the Canadian workforce. These policy changes respond to that reality by making it easier for self-employed borrowers to obtain CMHC mortgage loan insurance and benefit from competitive interest rates.”
— Romy Bowers, Chief Commercial Officer, Canada Mortgage and Housing Corporation

Information on this release

Audrey-Anne Coulombe
Media Relations
613-748-2573
acoulomb@cmhc-schl.gc.ca

Backgrounder

Canada’s self-employed workforce are already an important part of the Canadian economy and it is growing, driven partly by an increase in the on-demand economy.

Housing is a vehicle for social inclusion and, through the lens of the National Housing Strategy, CMHC is increasing flexibility for self-employed Canadians.

Was this page relevant to your needs?

Thank you for your feedback!

Sorry to hear that! Can you tell us about the problem?

For further assistance, pleasecontact us

ThanksYour feedback has been submitted.

Date Published: July 19, 2018
By Topic
  • Coronavirus (COVID-19) Updates
  • National Housing Strategy
  • Buying
  • Rental Housing
  • Developing and Renovating
  • Managing and Maintaining
  • Data and Research
  • Finance and Investing
About Us
  • CMHC's Story
  • Management and Governance
  • Partnerships
  • Corporate Reporting
  • Contact Us
  • Careers
More
  • CMHC e-Newsletters
  • CMHC Library
  • Housing Observer Online
  • Media Newsroom
  • CMHC on Twitter
  • CMHC on LinkedIn
  • CMHC on Facebook
  • CMHC on Instagram
  • CMHC on YouTube
Privacy Policy    |    Terms and Conditions    |    Transparency     Canada Mortgage and Housing Corporation (CMHC) ©2021 
Canada
loader icon