Self-employed individuals often face challenges when it comes to obtaining affordable mortgage rates and favorable options. However, with our services, we can provide low rates and excellent mortgage options specifically designed for self-employed individuals.

One of the key features of our mortgage service is the fast approval process, even for those who have been declined in the past. We understand the unique circumstances of self-employed individuals and work diligently to ensure a smooth and efficient mortgage approval process.

One of the factors we consider when determining mortgage options for self-employed individuals is the reduced taxable income due to claimed expenses. We understand that self-employed individuals often have legitimate expenses that impact their qualifying income, and we take these into account when assessing mortgage options.

For those self-employed individuals who have significant expenses impacting their qualifying income, our Stated Income mortgage option may be particularly useful. This option allows individuals to state their income based on reasonable estimates, taking into consideration their expenses.

We also accept dividend and investment income as a valid source of income for self-employed individuals. However, stability and proof requirements are necessary to consider this type of income in the mortgage assessment process.

To complete the mortgage application process, we require several documents from self-employed individuals. 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.

As mortgage brokers, we have access to a wide range of lenders in Canada, including large banks, mortgage finance companies, credit unions, and alternative financers. This means that we can provide options tailored specifically for self-employed individuals, taking into consideration their unique circumstances and income estimates.

If you are a self-employed individual in need of a mortgage, we encourage you to give us a call. We are here to provide the best mortgage options tailored for Business For Self (BFS) borrowers.