Self employed mortgages

Do you have your own business and need a mortgage? We specialize in self employed mortgages.

Self employed mortgages that make sense for you

More than ever, Canadians are choosing to work for themselves or contract jobs with their existing employers instead of earning a typical salary. When you are self-employed it comes with many benefits, such as the ability to write-off many personal expenses. The downside to this is that getting a mortgage through the big banks. Mortgages through banks can often be difficult to obtain as they typically won’t judge self-employed people with a common sense approach to lending, but instead rely on your income on line 150.

We deliver our self-employed mortgage solution to meet the needs of our self-employed clients, so you can rest assured that we have an independent mortgage solution that’s right for you.

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How to get you first time home buyers mortgage

For many years we have been successfully finding self employed individuals mortgages. One of the keys to our ongoing success is understanding the ins and outs of self-employment and lender requirements. We have a suggested range of mortgage solutions for this applicant profile for different types of self-employed mortgage products. Because big banks need proof of stable and visible income, you typically want a higher down payment of more than 20% so satisfy the bank. If you’re down payment is below 20%, CMHC, Genworth, and Canada Guaranty will scrutinize your mortgage application much closer.

There are, however, other options. We can use our access to a network of hundreds of lenders to find better terms. Apart from a higher down payment, we can look into creating a loan to contribute to your down payment or possibly merge a first and second mortgage. We know that the financial situation of an individual is more extensive than the numbers on a sheet of paper. Our highest priority is to find the right self employed mortgage solution for you.