Self-employed individuals often struggle to find low mortgage rates and suitable options. However, there are excellent mortgage options available specifically for these individuals. Moreover, these options come with fast approval, even for those who have faced previous declines.

One advantage of these self-employed mortgage options is that they take into account the reduced taxable income resulting from claimed expenses. This is particularly beneficial for those individuals who have a significant amount of expenses impacting their qualifying income. By considering the stated income, lenders can provide mortgage solutions that accommodate these expenses.

Furthermore, these mortgage options also accept dividend and investment income, as long as there is stability and sufficient proof. This means that self-employed individuals can include these forms of income when applying for a mortgage. However, it is important to provide the necessary documentation to support these claims. This includes documents such as the Notice of Assessment, T1 Tax Statement, proof of principal ownership in the business, and contracts or financial statements. In addition, a copy of the Article of Incorporation or business license may also be required.

When it comes to accessing these self-employed mortgage options, individuals can choose from a variety of lenders. These include large banks, mortgage finance companies, credit unions, and alternative financers. These lenders are willing to accept reasonable income estimates, making the process more accessible for self-employed individuals.

For those who are business owners, tailored mortgage options specifically designed for Business For Self (BFS) borrowers are available. These options take into consideration the unique needs and circumstances of business owners, providing them with suitable mortgage solutions.

If you are a self-employed individual looking for low rates and excellent mortgage options, feel free to give me a call. I can provide more information and assist you in finding the right mortgage solution for your needs.