Welcome to our Mortgage Broker FAQ page.
Whether you’re new to working with us or have partnered with Farm Lending Canada before, we’re here to make the process as smooth and transparent as possible. Below, you’ll find answers to the most common questions about submitting deals, our lending criteria, required documentation, and more. If you don’t see what you’re looking for, please feel free to contact us directly — we’re always happy to help.
| #1 | Can I use the Bank Statement Program for a refinance? | No, the Bank Statement Program is currently available for purchase transactions only. |
| #2 | How does the Bank Statement Program work? | We take a conservative approach. We review the most recent 12 months of business bank statements and analyze all credit and debit activity to determine net business income. |
| #3 | What’s the process for the Hobby Farm / Rural Residential program? | We are flexible with property size and location. All acreage and one outbuilding are included in the appraised value. Underwriting is similar to a prime lender. The home and property must be in good condition, and gross farm income must not exceed $20,000/year. |
| #4 | What qualifies as a Hobby Farm or Rural Residential property? | These are rural properties used for personal enjoyment or supplemental income—not full-time commercial farming. They may include features like small livestock, gardens, or crops. |
| #5 | Is there a maximum acreage limit? | No. We include all acreage in the appraised value. |
| #6 | Can the borrower earn income from the farm? | Yes, gross farming income of up to $20,000/year is allowed under this program. |
| #7 | What if the gross farming income is more than $20,000/year? | If gross farming income exceeds $20,000/year, the file may be a better fit under our Small Commercial Agriculture program or our Private Lending option, depending on the overall application. |
| #8 | Do you work with self-employed borrowers or business owners? | Absolutely. We support various income types, including self-employed borrowers. The Bank Statement Program is available for purchases, while standard documentation is required for refinances. We also offer a Net Income After Tax program for incorporated borrowers. |