Otherwise known as no income verification mortgages, no income mortgages are mortgages that don’t require you to prove your income. Typically when you apply for a mortgage, a traditional lender will ask you for proof of income such as T4’s (or T4A’s), Notice of Assessments, a Letter of Employment, and pay stubs.

Alternative lenders, on the other hand, provide more flexibility with income documentation requirements. Some lenders do not even ask for income documents and will accept borrowers with any credit scores.

With Ellicott Financial, you have options. Through our extensive network of alternative lenders, we can give you access to these alternative options and help tailor a mortgage just for you; regardless of your credit or income.


Income verification is a basic part of applying for a mortgage. Most lenders require you to prove your income in order for you to get approved for a loan. GDS and TDS ratios are two mortgage formulas that lenders use to determine exactly how much they are willing to lend you. These formulas use your income as a means to determine how much you can afford. Your Total Debt Service (TDS) ratio is the percentage of your income needed to cover all of your debts (which includes your mortgage). Let’s say for example, you make $3,000/month and the mortgage you are trying to qualify for is $1,100/month. In this circumstance, assuming no other debts, your TDS ratio would be 36.7% (1,100/3,000). Traditional lenders have a maximum TDS ratio of 44%. Because 36.7% is less than the industry maximum, you’d qualify for this loan.

No income mortgages on the other hand, are mortgages where you do not need to prove your income. Rather, these lenders look at other things when determining someone’s creditworthiness such as credit scores, amount of down payment, and amount of your current home equity.


  • No Income Verification
  • No Credit Score Minimums
  • 1st/2nd/3rd Mortgages
  • No Debt Ratio Requirements
  • Flexible Documentation Requirements
  • No Employment Verification
  • Quick and Easy Approvals
  • No Minimum Loan Amount
  • No Maximum Loan Amount