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Buying - Solutions for Self-Employed Individuals

Self-Employed borrowers can now be approved for a mortgage at discounted rates without showing any income verification with as little as 10% down. The "stated" income on the application must be reasonable based on the industry, length of operation and type of business.

Some of the requirements for this program are:

1. Excellent credit
2. The down payment - 10% plus – has to be own savings (cannot be borrowed or gifted).
3. A minimum of 2 years of self-employed tenure is recommended, however borrowers with less than 2-years self-employed tenure are considered as well depending on the length and type of previous employment.
4. Though the income is not verified, the “stated” income used in the application must be reasonable.
5. The property must be owner occupied
6. Personal taxes must be up to date

All mortgage terms at discounted rates apply. Extended amortization up to 40 years can also be offered.

There are also mortgage solutions available for self-employed individuals less than 2 years in business with good or bruised credit. The required down payment is 15% or more. Income is not verified by the bank.

• Self Employment
• Purchase + Improvements Mortgage
• Home Buyers Plan (RRSP)
• Solutions for New Canadians

It is the first time I ever used services of a mortgage broker, and for sure I will do it again. I am very pleased with Lena's service, level of expertise and what I find most important, she actually delivers what she promises - no games, no gimmicks. She got me an unbelievably low rate, met with me after work to sign all the papers, and her services cost me absolutely nothing. You can't go wrong here! Thank you!

Kim J. - Calgary

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