Are there special mortgages for realtors, brokers and commissioned sales people?

Joel Olson • December 20, 2021
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It's interesting, really when you think about it, both me and yourself, work towards helping people achieve homeownership,

whether that's a home they're going to live in, or an investment property that's going to benefit them financially for many years to come.


It's amazing that many of our clients have an easier time being approved for a mortgage than we do, even when we are sometimes in a much better financial position.


So what is available in terms of mortgages for commissioned salespeople?


In particular, what is available in terms of mortgages for people like me and you, realtors and mortgage brokers?


Did you know that there are actual mortgages that exist with the idea of allowing us to benefit from many tax advantages, like keeping money in our corporations, or writing off a significant amount of our expenses so that we are still able to buy a home while claiming much, much less on our taxes.


Sure, there can be some variety in interest rates, but even the very worst mortgage can be as low as two to 3% of our interest rate, and enables you to verify your income by only showing your commission statements and six months bank statements.


So let's review.


Here are a few ways that a realtor can qualify for a mortgage.


Now this applies if you're buying a primary residence or if you're buying rental properties.


Yes, we do go off your taxes by using a two year average of your income but many times this gets us nowhere near what's needed to qualify for a mortgage.


But we also have programs where we look at the retained earnings in your company or what net income you have after taxes and some of that income is added back allowing you to qualify for much more than your T1 General would allow.


After using those expenses, if we don't get you to a healthy amount of money, or perhaps you've had some of your better years this year or previous years and you have not yet claimed a tax return or done your corporate financials for those years to show, we can still qualify you by basing it on your current year and your obvious success you've had thus far.


We have many lenders out there that are using a simple six month bank statement showing the deposits of your commissions to qualify you for a mortgage.  Now as I mentioned previously, this does not mean and exorbitant interest rate. This does actually mean an interest rate that is often 2 to 3% enable you to take advantage of a very, very good market and to get into a house and get into some savvy deals yourself.


As always, it makes the most sense to work with someone really qualified to navigate different properties and different loan programs to allow you to take advantage of what you're seeing in front of your eyes... clients taking advantage of.


So if we can help you with a realtor or mortgage, please let us know as we love helping people just like us!


Schedule a time on my calendar here to explore options:

 

https://calendly.com/joel-20/discovery-zoom-call

 

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Joel Olson
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First-Time Buyer? Here’s How to Tell If You’re Ready

By Joel Olson • February 3, 2026
Ready to Buy Your First Home? Here’s How to Know for Sure Buying your first home is exciting—but it’s also a major financial decision. So how can you tell if you’re truly ready to take that leap into homeownership? Whether you’re confident or still unsure, these four signs are solid indicators that you’re on the right path: 1. You’ve Got Your Down Payment and Closing Costs in Place To purchase a home in Canada, you’ll need at least 5% of the purchase price as a down payment. In addition, plan for around 1.5% to 2% of the home’s value to cover closing costs like legal fees, insurance, and adjustments. If you’ve managed to save this on your own, that’s a great sign of financial discipline. If you're receiving help from a family member through a gifted down payment , that works too—as long as the paperwork is in order. Either way, having these funds ready shows you’re prepared for the upfront costs of homeownership. 2. Your Credit Profile Tells a Good Story Lenders want to know how you manage debt. Before they approve you for a mortgage, they’ll review your credit history. What they typically like to see: At least two active credit accounts (trade lines) , like a credit card or loan Each with a minimum limit of $2,000 Open and active for at least 2 years Even if your credit isn’t perfect, don’t panic. There may still be options, such as using a co-signer or working on a credit improvement plan with a mortgage expert. 3. Your Income Can Support Homeownership—Comfortably A steady income is essential, but not all income is treated equally. If you’re full-time and past probation , you’re in a strong position. If you’re self-employed, on contract, or rely on variable income like tips or commissions, you’ll generally need a two-year history to qualify. A general rule: housing costs (mortgage, taxes, utilities) should stay under 35% of your gross monthly income . That leaves plenty of room for other living expenses, savings, and—yes—some fun too. 4. You’ve Talked to a Mortgage Professional Let’s be real—there’s a lot of info out there about buying a home. Google searches and TikToks can only take you so far. If you're serious about buying, speaking with a mortgage professional is the most effective next step. Why? Because you'll: Get pre-approved (and know what price range you're working with) Understand your loan options and the qualification process Build a game plan that suits your timeline and financial goals The Bottom Line: Being “ready” to buy a home isn’t just about how much you want it—it’s about being financially prepared, credit-ready, and backed by expert advice. If you’re thinking about homeownership, let’s chat. I’d love to help you understand your options, crunch the numbers, and build a plan that gets you confidently across the finish line—keys in hand.

Bank of Canada Rate Announcement Jan 28th, 2026

By Joel Olson • January 28, 2026
Bank of Canada maintains policy rate at 2¼%. FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario January 28, 2026 The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The outlook for the global and Canadian economies is little changed relative to the projection in the October Monetary Policy Report (MPR). However, the outlook is vulnerable to unpredictable US trade policies and geopolitical risks. Economic growth in the United States continues to outpace expectations and is projected to remain solid, driven by AI-related investment and consumer spending. Tariffs are pushing up US inflation, although their effect is expected to fade gradually later this year. In the euro area, growth has been supported by activity in service sectors and will get additional support from fiscal policy. China’s GDP growth is expected to slow gradually, as weakening domestic demand offsets strength in exports. Overall, the Bank expects global growth to average about 3% over the projection horizon. Global financial conditions have remained accommodative overall. Recent weakness in the US dollar has pushed the Canadian dollar above 72 cents, roughly where it had been since the October MPR. Oil prices have been fluctuating in response to geopolitical events and, going forward, are assumed to be slightly below the levels in the October report. US trade restrictions and uncertainty continue to disrupt growth in Canada. After a strong third quarter, GDP growth in the fourth quarter likely stalled. Exports continue to be buffeted by US tariffs, while domestic demand appears to be picking up. Employment has risen in recent months. Still, the unemployment rate remains elevated at 6.8% and relatively few businesses say they plan to hire more workers. Economic growth is projected to be modest in the near term as population growth slows and Canada adjusts to US protectionism. In the projection, consumer spending holds up and business investment strengthens gradually, with fiscal policy providing some support. The Bank projects growth of 1.1% in 2026 and 1.5% in 2027, broadly in line with the October projection. A key source of uncertainty is the upcoming review of the Canada-US-Mexico Agreement. CPI inflation picked up in December to 2.4%, boosted by base-year effects linked to last winter’s GST/HST holiday. Excluding the effect of changes in taxes, inflation has been slowing since September. The Bank’s preferred measures of core inflation have eased from 3% in October to around 2½% in December. Inflation was 2.1% in 2025 and the Bank expects inflation to stay close to the 2% target over the projection period, with trade-related cost pressures offset by excess supply. Monetary policy is focused on keeping inflation close to the 2% target while helping the economy through this period of structural adjustment. Governing Council judges the current policy rate remains appropriate, conditional on the economy evolving broadly in line with the outlook we published today. However, uncertainty is heightened and we are monitoring risks closely. If the outlook changes, we are prepared to respond. The Bank is committed to ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. Information note The next scheduled date for announcing the overnight rate target is March 18, 2026. The Bank’s next MPR will be released on April 29, 2026. Read the January 28th, 2026 Monetary Report