Being self employed should not be a barrier to getting a mortgage, but with mortgage rules being tightened at banks the last few years, getting a mortgage is a lot harder. One of the great advantages is that being a business owner is that you can use accounting practices to help reduce your taxes. This however, will make it difficult to qualify you for a traditional mortgage at banks.
You are not alone, about 15% of Canadians are affected by these new mortgage rules.
Thankfully, we’ve got a list of lenders who are here to help. Many of our lenders have special mortgage products designed just for business owners such as you. So if you can prove you actually earn more than what you state in your tax returns by showing actual invoices, contracts or deposits, we can help you get a mortgage.
If you’ve been in business at least 2 years or if you have 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 Business for Self program for you.
If you fall into one of these categories:
- 100% commission income borrowers
- Contract employees
- Seasonal employees
- Small Business Owners
Talk to a mortgage Specialist TODAY! Call 647-773-9001
Getting a mortgage can be hard We make it easy!®