Newly Self-Employed Mortgage Newly Self-Employed applicants are normally required to demonstrate at least two full years of operation of their business. However, with the new policy changes at CMHC and the co-operation of lending institutions it is now possible to finance purchases for the newly self employed.
If a borrower has been working for an extended period of time and recently became self-employed in the same field, performing essentially the same function with the same skill requirements, the two year self-employed requirement does not apply.