Mortgage Loan for Self-Employed
While many Canadians benefit from self-employment, they may encounter issues when it comes to obtaining personal financing, such as a mortgage or a vehicle loan.
Mortgage Loan for Self-Employed Workers, Find the Solution Tailored to Your Needs
As a self-employed individual, you may have various mortgage financing needs, whether it’s for property acquisition, refinancing, debt consolidation, or other specific needs.
I’m here to guide you through every step of the process and help you find the solution that best fits your needs. Here’s what I offer you:
Understanding the Specifics of Mortgage Financing for Self-Employed Individuals
I understand the unique challenges that self-employed individuals face in real estate financing. Whether you have irregular income, unconventional financial documents, or other specific challenges, I’m here to help you navigate through the available options and find the best solution for you.
Alternative Income Documentation
To assess your solvency, I am able to accept a variety of documents attesting to your income, such as tax returns, financial statements, personal and business bank statements, employment contracts, and even recommendation letters from clients. I am flexible and can adapt my requirements based on your specific situation.
Range of Mortgage Solutions
I offer a comprehensive range of mortgage programs specifically designed to meet the needs of self-employed individuals. Whether you’re looking for a conventional loan, an insured loan, an alternative loan, or even a no-income verification loan, I’m here to help you find the solution that best suits your needs.
Benefits of Using a Mortgage Broker
By collaborating with me, you’ll benefit from my expertise in understanding all available options, objectively comparing interest rates, negotiating the best terms, and putting together a strong and comprehensive application package. I’m here to guide you through every step of the process and ensure that you make informed decisions.
Special Programs for Self-Employed Individuals
I also offer special financing programs with features and eligibility criteria tailored to self-employed individuals. Please refer to the summary table below to discover my special offers:
| Conventional | Insured | Insured Plus | Alternative |
Alternative with Bank Statement | |
|---|---|---|---|---|---|
Number of Years |
Minimum of 2 Years |
Minimum of 2 Years |
Minimum of 2 Years |
Minimum of 2 Years |
Minimum of 2 Years |
Type of Financing |
Conventional Financing |
Conventional Financing |
Conventional Financing |
Alternative Financing |
Alternative Financing |
Type of property |
For 1 to 4 Units |
For 1 to 4 Units, Owner-Occupied |
Max. 2 Units, 1 Owner-Occupied |
For 1 to 4 Units |
For 1 to 4 Units |
Maximum Loan |
80% |
95% |
90% |
80% |
80% |
Maximum Amortization |
Up to 30 Years |
Up to 25 Years |
Up to 25 Years |
Up to 35 Years |
Up to 35 Years |
Minimum Credit Score |
600 |
600 |
650 |
500 |
500 |
Documentation | Self-employed borrowers must confirm they have been active for at least two years and provide proven two-year income history to support eligible income. | Self-employed borrowers must confirm they have been active for at least two years and provide proven two-year income history to support eligible income. | According to the guidelines established by the insurers. | Self-employed borrowers must confirm they have been active for at least two years and provide proven two-year income history to support eligible income. | A letter of income and expense declaration provided by the applicant and bank statements of the business covering a twelve-month period. |
Conventional Mortgage Loan
Self-employed for at least: 2 years
Type of financing: Conventional Financing
Property Type: 1 to 4 units
Maximum Loan: 80%
Maximum Amortization: Up to 30 years
Minimum Credit Score: 600
Documentation: Self-employed borrowers must confirm they have been active for at least two years and provide proven two-year income history to support eligible income.
Insured Mortgage Loan
Self-employed for at least: 2 years
Type of financing: Conventional Financing
Property Type: 1 to 4 units
Maximum Loan: 95%
Maximum Amortization: Up to 25 years
Minimum Credit Score: 600
Documentation: Self-employed borrowers must confirm they have been active for at least two years and provide proven two-year income history to support eligible income.
Insured Plus Mortgage Loan
Self-employed for at least: 2 years
Type of financing: Conventional Financing
Property Type: 1 to 2 units
Maximum Loan: 90%
Maximum Amortization: Up to 25 years
Minimum Credit Score: 650
Documentation: According to guidelines established by insurers.
Alternative Mortgage Loan
Self-employed for at least: 2 years
Type of financing: Alternative Financing
Property Type: 1 to 4 units
Maximum Loan: 80%
Maximum Amortization: Up to 35 years
Minimum Credit Score: 500
Documentation: Self-employed borrowers must confirm they have been active for at least two years and provide proven two-year income history to support eligible income.
Alternative with Bank Statement
Self-employed for at least: 2 years
Type of financing: Alternative Financing
Property Type: 1 to 4 units
Maximum Loan: 80%
Maximum Amortization: Up to 35 years
Minimum Credit Score: 500
Documentation: A letter of income and expense declaration provided by the applicant and bank statements of the business covering a twelve-month period.
Explore Your Mortgage Options
Ready to move to the next step? Contact me for a personalized consultation now.
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