SELF EMPLOYED

The first question that comes to mind is who qualifies under the Self-Employed Mortgages Category. The following list explains to us about professions covered under the Self Employed Category.

Contactors like IT contractors, general contractors etc.
Small business owners.Example salon owners, restaurant owners etc.
Truck/taxi/uber drivers.

You can qualify for higher mortgage amounts with the lowest interest rates. Why choose a mortgage broker for a self-employed mortgage?

Almost 20% of Canadians are employed and at least doing part-time, still, it’s not easy to prove their self-employed income because of the expenses, and deductibles they show while filing their taxes. Here’s when a mortgage broker can help you get a self-employed mortgage with the best and lowest rates. We have over 60 lender access and we know which lender specialize in self-employed mortgages. We can get you the best rates and more favorable terms that are suitable to your situation.

Some factors responsible for self-employed mortgages are as follows:

Credit Score – It is one of the important factors to qualify for a self-employed mortgage. Lenders use credit history to count on your ability to pay back the loan.

Income Verification – Income is verified by Lenders they check income verification documents. This can include tax returns, financial records, and profit and loss statements.

Down Payment – Down payment is the upfront money that you pay as some percentage of the Home Purchase price. A larger down payment can improve the chances of approval.

Interest Rates – They are competitive to the traditional Mortgage, it can vary depending on credit score, down payment, and the policies of the lender. You can see the rates.

Mortgage Types – Clients can apply for fixed mortgages, variable mortgages, or programs designed to meet their unique circumstances.

Pre-approval – It is best practice to get pre-approved before looking for a house. It not only helps you get a clear picture of how much you can afford and make an offer.

”Mortgage Agent helps you to find the right mortgage products according to their unique situation. We have access to multiple lenders and can help to understand unique and complex situations as self-employed. If you have any questions in your mind regarding Self Employed Mortgages, You can also check for Frequently asked questions, with the link FAQ you are a click away from getting the best mortgage solution.

SELF EMPLOYED

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