Self-employed individuals can take advantage of low rates and excellent mortgage options that are specifically designed for them. Even if you have been declined for a mortgage in the past, fast approval is still possible. These mortgage options take into consideration the reduced taxable income that self-employed individuals often have due to claimed expenses. If you have expenses that impact your qualifying income, a Stated Income mortgage might be the right option for you. Dividend and investment income are also accepted, as long as stability and proof requirements are met. When applying for these mortgages, you will need to provide certain documents, such as the Notice of Assessment, T1 Tax Statement, proof of principal ownership in the business, contracts or financial statements, and a copy of the Article of Incorporation or business license. The good news is that these mortgage options are offered by top Canadian lenders, including large banks, mortgage finance companies, credit unions, and alternative financers that are willing to accept reasonable income estimates. If you are a self-employed borrower and need a mortgage, contact us to explore the tailored options available for Business For Self (BFS) borrowers.