If you are a self-employed individual looking for a mortgage, you can take advantage of low rates and excellent mortgage options specifically designed for you. These options are ideal for self-employed individuals who may have experienced previous declines but still want fast mortgage approval.

What makes these mortgage options unique is that they consider the reduced taxable income that often results from claimed expenses. This means that if you have significant expenses that impact your qualifying income, you can still qualify for a mortgage through a Stated Income mortgage.

Furthermore, if you have dividend or investment income, it can also be considered as part of your qualifying income. However, you will need to provide stability and proof of this income.

In order to apply for these tailored mortgage options, you will need to submit certain documents. These documents include your Notice of Assessment, T1 Tax Statement, proof of principal ownership in your business, any relevant contracts or financial statements, and a copy of your Article of Incorporation or business license.

The best part is that you have access to top Canadian lenders, including large banks, mortgage finance companies, credit unions, and alternative financers. These lenders are willing to accept reasonable income estimates when considering your mortgage application.

If you are a self-employed borrower and are interested in exploring the Business For Self (BFS) mortgage options available to you, don't hesitate to give us a call. We are here to help you find the best mortgage solution tailored to your needs and financial situation.