Self-employed individuals often struggle to find low rates and excellent mortgage options due to the complexities of their financial situation. However, there are now fast mortgage approval options available specifically designed for self-employed individuals, even if they have been previously declined.

One of the key benefits of these self-employed mortgage options is that they take into consideration the reduced taxable income resulting from claimed expenses. This is particularly useful for those who have a significant amount of expenses that impact their qualifying income. With a Stated Income mortgage, individuals can still qualify for a mortgage based on their stated income, without having to provide extensive proof of their income.

Furthermore, these mortgage options also take into account dividend and investment income. As long as individuals can prove the stability of this income and provide the necessary documentation, it can be considered when determining their eligibility for a mortgage.

In terms of the application process, there are several required documents that self-employed individuals need to provide. These 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.

Fortunately, there is access to a wide range of top Canadian lenders that cater to self-employed individuals. This includes large banks, mortgage finance companies, credit unions, and alternative financers. These lenders are willing to accept reasonable income estimates, making it easier for self-employed individuals to secure a mortgage.

For those who are Business For Self (BFS) borrowers, there are options specifically tailored to their needs. These mortgage options take into account the unique financial situation of BFS borrowers, offering them a more suitable solution.

In conclusion, self-employed individuals now have access to low rates and excellent mortgage options tailored to their needs. With fast mortgage approval, consideration of reduced taxable income from claimed expenses, acceptance of dividend and investment income, and a wide range of lenders to choose from, self-employed individuals can finally find the mortgage solution that suits them best.