Self Employed Programs

With nearly 20% of Canadians claiming to be self employed it is easy to see that entrepreneurship is a common professional theme in today’s do-it-yourself society. People are more willing to strike out on their own and try to launch their dream career than work under someone else’s restrictions. However, being self-employed is not without its own set of stresses – including applying for a mortgage.

When you’re applying for a mortgage, a lender usually requires proof of steady income, typically in the form of pay stubs. Given that self-employed individuals often draw less income in order to reduce their income tax, a self-employed mortgage is often the perfect solution.

Emphasize Your Strengths

Working with a Mortgage Planner that easily spots the strengths of your situation is key.  While you may not have pay stubs to fall back on, there is no question there are many other areas of strength.  Good credit, business financials, previous employment experience, etc are all areas we will focus on. A self-employed mortgage may also require less paperwork compared to a traditional mortgage application.

Planning for your future is important.  If you are currently self-employed and know you will be applying for a mortgage in the coming months the best time to start is TODAY!  We will work with you to ensure the lender required documents are going to be prepared properly and support your strengths. If you’re thinking about becoming self-employed you would be well suited to speak to us in preparation for this significant life transition.  The most difficult time to receive financing when you are self-employed is when you need it most, in the 1st 2 years.  We want to help, give us a call.