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

Joel Olson • December 20, 2021
financial-reset-using-low-mortgage-rates

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

 

A man with a beard and a suit is smiling for the camera.
Joel Olson
GET STARTED

Best Mortgage Options for Canadian Homebuyers

By Joel Olson • January 6, 2026
Thinking of Calling Your Bank for a Mortgage? Read This First. If you're buying a home or renewing your mortgage, your first instinct might be to call your bank. It's familiar. It's easy. But it might also cost you more than you realize—in money, flexibility, and long-term satisfaction. Before you sign anything, here are four things your bank won’t tell you—and four reasons why working with an independent mortgage professional is the smarter move. 1. Your Bank Offers Limited Mortgage Options Banks can only offer what they sell. So if your financial situation doesn’t fit neatly into their guidelines—or if you’re looking for competitive terms—you might be out of luck. Working with a mortgage broker? You get access to mortgage products from hundreds of lenders : major banks, credit unions, monoline lenders, alternative lenders, B lenders, and even private funds. That means more options, more flexibility, and a much better chance of finding a mortgage that fits you. 2. Bank Reps Are Salespeople—Not Mortgage Strategists Let’s be honest: most bank mortgage reps are trained to sell their employer’s products—not to analyze your financial goals or tailor a long-term mortgage plan. Their job is to generate revenue for the bank. Independent mortgage professionals are different. We’re not tied to one lender—we’re tied to you. Our job is to shop around, negotiate on your behalf, and recommend the mortgage that offers the best balance of rate, terms, and flexibility. And yes, we get paid by the lender—but only after we find you a mortgage that works for your situation. That creates a win-win-win: you get the best deal, we earn our fee, and the lender earns your business. 3. Banks Don’t Lead with Their Best Rate It’s true. Banks often reserve their best rates for those who ask for them—or threaten to walk. And guess what? Most people don’t. Over 50% of Canadians accept the first renewal offer they get by mail. No questions asked. That’s exactly what the banks count on. Mortgage professionals don’t play that game. We start by finding lenders offering competitive rates upfront, and we handle the negotiations for you. There’s no guesswork, no pressure, and no settling for less than you deserve. 4. Bank Mortgages Are Often More Restrictive Than You Think Not all mortgages are created equal. Some come with hidden traps—especially around penalties. Ever heard of a sky-high prepayment charge when someone breaks their mortgage early? That’s often due to something called an Interest Rate Differential (IRD) —and big banks are notorious for using the harshest IRD calculations. When we help you choose a mortgage, we don’t just focus on the interest rate. We look at the whole picture, including: Prepayment privileges Penalty calculations Portability Future flexibility That way, if your life changes, your mortgage won’t become a financial anchor. A Quick Recap What your bank typically offers: Only their own limited mortgage products Sales-focused representatives, not mortgage strategists Default rates that aren’t usually their best Restrictive contracts with high penalties What an independent mortgage professional delivers: Access to over 200 lenders and customized mortgage solutions Personalized advice and long-term financial strategy Competitive rates and terms upfront Transparent, flexible mortgage options designed around your needs Let’s Talk Before You Sign Your mortgage is likely the biggest financial commitment you’ll ever make. So why settle for a one-size-fits-all solution? If you're buying, refinancing, or renewing, I’d love to help you explore your options, explain the fine print, and find a mortgage that truly works for you. Let’s start with a conversation—no pressure, just good advice.
A man is sitting at a desk using a laptop computer.

Mortgage Approval 101: GDS & TDS Explained

By Joel Olson • December 30, 2025
Can You Afford That Mortgage? Let’s Talk About Debt Service Ratios One of the biggest factors lenders look at when deciding whether you qualify for a mortgage is something called your debt service ratios. It’s a financial check-up to make sure you can handle the payments—not just for your new home, but for everything else you owe as well. If you’d rather skip the math and have someone walk through this with you, that’s what I’m here for. But if you like to understand how things work behind the scenes, keep reading. We’re going to break down what these ratios are, how to calculate them, and why they matter when it comes to getting approved. What Are Debt Service Ratios? Debt service ratios measure your ability to manage your financial obligations based on your income. There are two key ratios lenders care about: Gross Debt Service (GDS) This looks at the percentage of your income that would go toward housing expenses only. 2. Total Debt Service (TDS) This includes your housing costs plus all other debt payments—car loans, credit cards, student loans, support payments, etc. How to Calculate GDS and TDS Let’s break down the formulas. GDS Formula: (P + I + T + H + Condo Fees*) ÷ Gross Monthly Income Where: P = Principal I = Interest T = Property Taxes H = Heat Condo fees are usually calculated at 50% of the total amount TDS Formula: (GDS + Monthly Debt Payments) ÷ Gross Monthly Income These ratios tell lenders if your budget is already stretched too thin—or if you’ve got room to safely take on a mortgage. How High Is Too High? Most lenders follow maximum thresholds, especially for insured (high-ratio) mortgages. As of now, those limits are typically: GDS: Max 39% TDS: Max 44% Go above those numbers and your application could be declined, regardless of how confident you feel about your ability to manage the payments. Real-World Example Let’s say you’re earning $90,000 a year, or $7,500 a month. You find a home you love, and the monthly housing costs (mortgage payment, property tax, heat) total $1,700/month. GDS = $1,700 ÷ $7,500 = 22.7% You’re well under the 39% cap—so far, so good. Now factor in your other monthly obligations: Car loan: $300 Child support: $500 Credit card/line of credit payments: $700 Total other debt = $1,500/month Now add that to the $1,700 in housing costs: TDS = $3,200 ÷ $7,500 = 42.7% Uh oh. Even though your GDS looks great, your TDS is just over the 42% limit. That could put your mortgage approval at risk—even if you’re paying similar or higher rent now. What Can You Do? In cases like this, small adjustments can make a big difference: Consolidate or restructure your debts to lower monthly payments Reallocate part of your down payment to reduce high-interest debt Add a co-applicant to increase qualifying income Wait and build savings or credit strength before applying This is where working with an experienced mortgage professional pays off. We can look at your entire financial picture and help you make strategic moves to qualify confidently. Don’t Leave It to Chance Everyone’s situation is different, and debt service ratios aren’t something you want to guess at. The earlier you start the conversation, the more time you’ll have to improve your numbers and boost your chances of approval. If you're wondering how much home you can afford—or want help analyzing your own GDS and TDS—let’s connect. I’d be happy to walk through your numbers and help you build a solid mortgage strategy.