Getting Pre-approved for a Mortgage in Ontario (Toronto)

[Anthony Panepinto]

Hey, hey!

Your help is appreciated here folks.

So, I am looking at 3 properties that I've ran the numbers on and look like they will work well for the BRRRR method.

With that said, I would like to place offers and see which ones bite - to make the deal smoother for the seller, I'd like to get pre-approved for a mortgage. 

With that said, I've begun discussions with a Mortgage agent at TD bank (I'm based in Toronto) and given that I run my own tech company, I fall under the "self-employed" category and as any business owner knows, if you can keep money in the company there are great tax benefits. On the flip side, my salary is low because I have kept a lot of the profits in the company. This is causing some issues with getting pre-approved for a mortgage and the agent mentioned that I will need a co-sign with a strong salary and that they will also HAVE TO be on title. 

I'd rather NOT get a co-sign because I'd like to manage my own risk completely, at least at this stage as I am buying my first investment property. 

Are there any tricks, tips, or ways to get pre-approved with a low income as a self-employed business owner?

P.S. if there are any local mortgage brokers here (from Toronto, or Ontario) that are interested in working with me, please DM. 

I will continue reaching out to other banks, however, I want to approach them in a way that will make it easier for them, so your help is much appreciated here!

Thanks so much!

With much gratitude.