Self-employed individuals seeking mortgage financing can benefit from low rates and attractive mortgage options designed specifically for their unique financial situations. Even if you have experienced previous declines, fast mortgage approvals are available to help you secure the financing you need.

Mortgage options for the self-employed take into account reduced taxable income resulting from business expenses, which often impact traditional income calculations. One useful solution is the Stated Income mortgage, ideal for those whose qualifying income is affected by these claimed expenses. Additionally, lenders accept dividend and investment income as part of the application process, provided there is stability and sufficient proof.

To qualify, applicants should be prepared to provide essential documentation. This includes the Notice of Assessment, T1 Tax Statement, proof of principal ownership in the business, contracts or financial statements, and a copy of the Articles of Incorporation or business license.

Applicants gain access to top Canadian lenders, including major banks, mortgage finance companies, credit unions, and alternative financers who work with reasonable income estimates. Specialized mortgage options tailored specifically for Business For Self (BFS) borrowers are also available. Feel free to reach out to discuss your options and kickstart your mortgage approval process!