Self Employed Mortgages in Canada

Home mortgage refinancing

Being self employed is a liberating experience however being self employed can also make obtaining a home mortgage from a bank a difficult task. We help self employed Canadians obtain mortgage financing.

Self employed mortgage borrowers in Canada who have proveable income for 2 years with 3rd party validation, have 2 years of clean credit, have 2 credit lines (credit card, car loan, line of credit) open for at least 1 year (on both lines) and a minimum beacon score of 600 or higher should qualify for a purchase an owner occupied 1-4 unit property with 5% down.

Self employed borrowers who do not have proveable income, less then 3 years of business operation, a minimum beacon score of 650 and have a down payment from traditional sources can purchase an owner occupied 1-2 unit property with 10% down. Self employed borrowers who do not have proveable income do not qualify with a non traditional down payment (borrowed funds, gifted down payment).

Commission-based borrowers do not qualify without 3rd party validation.

Self employed with bad credit or unprovable income. We can help self employed Canadians obtain a mortgage even with bad credit or unprovable income provided they have a minimum of 15%-20% down. If you live in a major metropolitan area you may qualify for a purchase or refinance with as a little as 15% down/equity.

To see if you qualify for these Canadian self employed mortgage options apply online today.