If you are self-employed or a business owner, you may be surprised to find that getting a mortgage, without the conventional documents, is not a simple process.
In the past 3 years mortgage rules have been tightened numerous times. As a result mortgage borrowers are not only required to supply more documents than before, but the criteria to qualify for a mortgage has increased. This is especially the case for those who have their own businesses and don’t have the typical documentation required.
Here are some items you need to have or be aware of when you apply for a mortgage.
So what should you do if you are one of the thousands of successful self-employed Canadians and you want to buy a home?
As mortgage professionals, we help clients every day to get a mortgage they can afford and at great rates. If you are unsure whether you can prove your income, talk to us and we can help simplify the process and explain everything you need to know.
Contact us today!