Mortgages For Self Employed
Mississauga Mortgage Agent
A self-employed mortgage is a residential mortgage on a home, or a commercial mortgage on a commercial property owned by or being purchased by someone who is either self employed or owns their own business or corporation. Because self-employed Canadians have a different type of way of declaring their earnings than salaried employees who are employed full-time or part-time, their declared net income is not always large enough to qualify for a traditional mortgage at the banks in Canada.
Some Requirements to qualify for a self-employed Mortgage
- Great credit
- Minimum of two years business-for-self tenure
- Income stated must be reasonable
- Minimum of 5% of the down payment must come from own resources
- Proof no income taxes are owing
- Additional requirements can be discussed as per individual’s situation
Please contact Deep Das Your Personal Mortgage Broker for Life, who specializes in helping people in the GTA and all over Ontario in financing their infill housing projects. Deep Das believes that every customer deserves the best care and service when purchasing or refinancing the home of their dreams.