Congratulations on taking the first step towards homeownership as a self-employed individual! Owning a home provides financial benefits also a sense of stability and pride.
Entrepreneurship should be rewarded, but securing a mortgage has often been challenging for the self-employed. Many banks today prefer salaried applicants, but if you are self-employed, you can still apply for a mortgage.
To apply for a self-employed mortgage, it is crucial to provide proper income verification and relevant business documentation. You will need to submit copies of your Notice of Assessment or business financial statements for the two years preceding the purchase date, along with the latest Notice of Assessment from the Canada Revenue Agency. Without sufficient documentation, you might be categorized as “non-conforming,” requiring a larger down payment and potentially resulting in a higher mortgage rate. Therefore, obtaining advice and guidance from a qualified mortgage professional is more important than ever.
Like you, we are self-employed and understand your situation. We have assisted many self-employed Canadians in obtaining mortgages with the best rates, working on your behalf to find the right mortgage for you. We operate independently for our clients and have access to top lenders who specialize in self-employed mortgages, offering favorable terms suited to your situation.
