Self-employed individuals can now benefit from low rates and excellent mortgage options specifically designed for their unique financial situation. These mortgage options cater to self-employed individuals who may have faced previous declines when applying for a mortgage.

One of the advantages of these mortgage options is that they take into consideration the reduced taxable income that often occurs due to claimed expenses. This is particularly useful for self-employed individuals who have a lot of expenses that impact their qualifying income. The Stated Income mortgage option is specifically designed to address this concern and is a great solution for those with significant expenses.

Another benefit of these mortgage options is the acceptance of dividend and investment income. As long as there is stability and proof of this income, it can be considered when calculating the borrower's eligibility. This provides more flexibility for self-employed individuals who may have income from various sources.

In order to apply for these mortgage options, there are several required documents that need to be submitted. These documents include the Notice of Assessment, T1 Tax Statement, proof of principal ownership in the business, and contracts or financial statements. Additionally, a copy of the Article of Incorporation or business license may also be required.

Access to top Canadian lenders is also provided through these mortgage options. This includes large banks, mortgage finance companies, credit unions, and alternative financers. These lenders are accepting of reasonable income estimates and understand the unique financial situation of self-employed individuals.

For self-employed individuals looking for a mortgage that caters specifically to their needs, there are options tailored for Business For Self (BFS) borrowers. These options are designed to provide the best mortgage solution for self-employed individuals and can be discussed further by contacting the mortgage provider.