3852 Finch Ave E #209, Scarborough, ON M1T 3T9, Canada
Brokerage #13763
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Brokerage #13763
Self-employed Ontario homeowners can access their home equity through a private HELOC — no T4, no income verification, no stress test. Private HELOC lenders (MIC lenders and private mortgage companies) approve based on your property equity, not your declared CRA income. Rates range from 9–14%, with approval in 24–48 hours and funding within 5–10 business days. lendsimpl arranges private HELOCs for self-employed Ontario borrowers — FSRA Brokerage #13763.
No forms, no waiting — approved in 24–48 hours, funded in 5–10 business days.
Takes about 30 seconds · Free · No obligation
Private HELOC lenders bypass all of the below — they don't look at declared income, write-offs, or the stress test. Approval is based entirely on your property equity.
The federal B-20 stress test and OSFI lending guidelines require banks to verify income from CRA-filed tax documents. For self-employed borrowers, this means banks use the net declared income from your T1 General and Notice of Assessment — not your gross revenue or actual cash flow.
Self-employed business owners, consultants, contractors, and incorporated professionals frequently minimize taxable income through legitimate business write-offs: vehicle expenses, home office, equipment, professional fees, and business meals. Lower declared income often pushes GDS/TDS ratios above bank limits, resulting in HELOC rejection.
Even if a bank accepts your self-employment income, you must still qualify at the contract rate plus 2% under the B-20 stress test — a threshold that heavily discounted declared income often can't clear.
A business owner earning $250,000 gross revenue who takes $80,000 in write-offs shows $170,000 declared income. A bank qualifies them on $170,000 — not $250,000. The same person may own a home with $400,000 of equity and still be rejected for a $100,000 HELOC because of the income calculation. A private HELOC resolves this by ignoring income entirely.
Recognize your situation here?
Tell us what happened — we'll tell you what's still possible.
How a bank HELOC and a private HELOC compare for self-employed Ontario homeowners.
| Factor | Bank HELOC | Private HELOC |
|---|---|---|
| Income documentation | T4s (3 years), T1 General, NOA | Not required |
| Self-employment history | 2 years confirmed self-employment | Not required |
| Income used to qualify | Declared net income from CRA | Not evaluated |
| Business write-offs impact | Reduce qualifying income — often fatal | Irrelevant |
| Stress test (B-20) | Must qualify at rate + 2% | Not applied |
| GDS/TDS ratios | GDS ≤39%, TDS ≤44% | Not calculated |
| Approval basis | Personal income and credit | Property equity |
| Rate range (Q2 2026) | Prime + 0.5–1% (~7–8%) | 9–14% |
| Approval timeline | 3–6 weeks | 24–48 hours |
| Max combined LTV | 65–80% | 75–80% (property dependent) |
Rate data as of Q2 2026. Bank prime rate used: 5.20%. Private rates vary by lender, equity, and property.
Not sure which column fits you?
Tell us your equity and income situation — we'll tell you what's possible.
Unincorporated self-employed individuals filing T2125 with their T1 General. No corporate structure required.
Owners of Ontario numbered companies or operating corporations. HELOC approval does not require business financial statements.
IT contractors, creative professionals, consultants. Variable income is not a barrier — equity is the primary qualification factor.
Ontario property investors whose declared income is low relative to portfolio size. Private HELOC provides access to equity without income calculation.
Incorporated doctors, dentists, lawyers, and accountants who pay themselves dividends rather than salary and show low T4 income.
Sales professionals, mortgage agents, real estate agents with variable income. Private lenders do not require 2-year income averaging.
Not sure your profile fits?
Tell us your situation — we'll tell you what's possible.
Private HELOC amounts are determined entirely by your home's equity — not your income. Available HELOC = (Property Value × Max LTV%) − Outstanding Mortgage Balance. Max LTV is typically 75–80% with private lenders.
| Example | Property Value | Mortgage Balance | Max LTV | Available HELOC |
|---|---|---|---|---|
| Toronto property | $900,000 | $500,000 | 75% | $175,000 |
| GTA / Hamilton property | $700,000 | $350,000 | 75% | $175,000 |
| Ottawa property | $650,000 | $280,000 | 75% | $207,500 |
| Smaller Ontario city | $500,000 | $250,000 | 75% | $125,000 |
Want your own numbers run?
Share your property value and mortgage balance — we'll calculate your available equity.
Tell us your mortgage balance, property value, and what you need the funds for — no income documents required.
We arrange a valuation to confirm your home's current equity position.
We match your file to the private HELOC lender — a MIC lender or private mortgage company — suited to your equity, property, and timeline.
Your private lender issues approval based on equity, typically within 24–48 hours — not your declared income.
Once conditions are met, your HELOC typically funds within 5–10 business days.
Ready to start?
Share your property details — no income documents required.
Rather just talk it through?
A licensed broker is one call away.
lendsimpl is a Financial Services Regulatory Authority of Ontario–licensed brokerage. Every mortgage agent is individually licensed.
Any lender, broker, legal or appraisal fee that applies to your file is disclosed in writing before you commit to anything.
Reviewing your options costs nothing and carries no obligation. You decide whether to move forward once you've seen the numbers.
Your information is encrypted, handled with strict confidentiality, and shared only with the lenders relevant to your file.
Questions about how it works?
No obligation, no pressure.
Straight answers on rates, documents, and approval — so you know exactly what to expect before you apply.
FSRA #13763
No income verification. No stress test. Approved in 24–48 hours, funded in 5–10 business days.
Start My Application →Self-Employed · Private HELOC · Ontario
lendsimpl is an FSRA-licensed mortgage brokerage (Brokerage #13763) working with 30+ private HELOC lenders across Ontario. We specialize in helping self-employed homeowners access the equity they've built — without the income documentation that banks require.
Private lenders qualify on equity and cash flow, not NOAs. FSRA Brokerage #13763. Fast approvals. No pressure.