If you are self-employed and looking for a mortgage, you can take advantage of low rates and excellent mortgage options. Even if you have been declined in the past, you can still obtain fast mortgage approval. These mortgage options are designed to consider the reduced taxable income that comes from claimed expenses.

For those who have expenses that impact their qualifying income, a Stated Income mortgage can be particularly useful. This type of mortgage allows you to state your income without providing extensive documentation. However, some stability and proof requirements for dividend and investment income may still be necessary.

When applying for a mortgage as a self-employed individual, you will need to provide certain documents. These include the Notice of Assessment, T1 Tax Statement, proof of principal ownership in your business, contracts or financial statements, and a copy of the Article of Incorporation or business license.

You will have access to top Canadian lenders through these mortgage options. This includes large banks, mortgage finance companies, credit unions, and alternative financers. These lenders are willing to accept reasonable income estimates, so you can be confident in obtaining the mortgage that suits your needs.

Additionally, there are options specifically tailored for Business For Self (BFS) borrowers. These options take into account the unique financial circumstances of self-employed individuals. If you are interested in these mortgage options, feel free to give me a call. I can help guide you through the process and find the best solution for you.