For the self-employed individuals, securing a mortgage can be challenging, but that does not make it impossible to qualify for the loan program just as the traditional borrowers. The primary key for a self-employed person to obtain mortgage successfully is income verification.
Loan lenders want to ensure that you can afford your mortgage and that is why self-employed borrowers require extra paperwork including client statements, tax forms, and other records proving your ability to repay the loan.
When it comes to self-employed individuals, reducing their taxable income makes it difficult for one to qualify for the mortgage they deserve. Fortunately, as business owners, we understand your needs, and we are here to help you. Moreover, we have a list of numerous financial institutions and lenders offering the best mortgage options and rates for the self-employed borrowers in Canada. The lenders understand the needs of the self-employed and that they have tax-write-offs which create reduction in their income. You will, therefore, not be required to prove your income to qualify for a mortgage and your estimate will be accepted as long as it is reasonable.
Contact us for assistance, and we will be glad to help get the best lender. We deal with many lenders, and this is a benefit for you since having many of them compete for your business provides you with higher chances of getting the best mortgage rate. Some of the various institutions we deal with include credit unions, banks, and trusts just to mention a few. We, therefore, can help you in negotiation to get the best options that suit your specific needs.