Call Us Today! 905.664.9493 | info@mortgageconcepts.ca

Self-Employed Mortgage

Self-Employed Mortgages From Mortgage Concepts

Mortgages for people who are self-employed or who own a small business have become a necessity because of the banks’ new rules and regulations. More Canadians are working for themselves or sub-contracting with existing companies rather than receiving a salary. There are many advantages to being in business for yourself. The greatest advantage is the ability to write off many personal expenses and pay less income tax at year’s end. The problem with being self-employed is it can be difficult to prove your income and after taxes and deductions you could show less income on your tax return. This can result in only being able to qualify for a lower mortgage amount or not being able to qualify at all.

Self-employed mortgages are a specialized mortgage product that is geared towards a person who has their own business or is sub-contrating with an existing business. More than 30% of people are opting into working for themselves in Canada and that number continues to rise. Mortgage Concepts understands that times are changing and with our specialized self-employed mortgage programs that we offer to business owners we have helped them secure a mortgage. If you are able to prove your income through your personal tax Notice of Assessment forms, getting a mortgage can be as simple as obtaining a traditional mortgage when working with us.

Here at Mortgage Concepts we take pride in being experts when it comes to securing self-employed mortgages. We will work hard for your business and obtain a mortgage that fits you!

Self-Employed Mortgages For All Situations Regardless Of Debt, Income, Or Credit

It is becoming very difficult to get a mortgage through traditional banks as they might not properly evaluate self-employed individuals with the proper approach. Because traditional banks require extensive proof of income, business financial statements, tax returns, proof of future income and many other documents to apply for a mortgage, even with a co-applicant this process has made it very difficult to obtain a loan with chartered banks. This does not have to be your reality, and we can simplify the process of getting a mortgage for self-employed Canadians.

Luckily, there are options available to you and we offer loan programs that are specifically geared for individuals who are self-employed. The approvals are based on such things as good credit, length of time in business, and the property type and location rather than just business financials or tax returns alone. This can provide you with flexibility to secure the mortgage of your choice for the home you are looking to purchase. We understand that you work hard as a small business owner so we will make sure that we work even harder for you to obtain the mortgage you are looking for.