Self-employed individuals will find low rates and excellent mortgage options tailored specifically for their unique financial situation. These mortgage options are designed to help self-employed borrowers secure the financing they need, even if they have been previously declined for a traditional mortgage.

One key advantage of these self-employed mortgage options is the consideration of reduced taxable income due to claimed business expenses. This is especially useful for individuals who have legitimate expenses that impact their qualifying income. Additionally, stated income mortgages are available for those who may have difficulty providing traditional income verification.

When applying for a self-employed mortgage, borrowers will need to provide certain documents to verify their income and business ownership. These documents may include 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.

Self-employed borrowers will also have access to a variety of top Canadian lenders, including large banks, mortgage finance companies, credit unions, and alternative financers. These lenders are willing to work with self-employed individuals and may accept reasonable income estimates in order to approve a mortgage application.

For self-employed individuals looking for mortgage options tailored specifically to their needs, Business For Self (BFS) borrowers will find specialized solutions that can help them achieve their homeownership goals. If you are self-employed and in need of a mortgage, don't hesitate to reach out for more information and guidance.