Small business is the backbone of Canadian business. Yet when business owners go to get a mortgage they are often considered high risk by traditional lenders.

A new type of mortgage allows Canadian business owners qualify without proving income.

"Entrepreneurs who show their financial responsibility by consistently paying their bills and loans have demonstrated they have the ability to manage their mortgage," continues Falkowski. "Canada's small business owners and independent workers should be rewarded for their good fiscal management rather than penalized." Via The Record

The key in this type of mortgage is to know your limits. Since you can qualify without having to state income, make sure that you are sure you know how much of a mortgage payment you carry easily.

If your income varies throughout the year, base the mortgage payment on the low side to make sure you do not over estimate your ability to make the payments.