How to Get a Mortgage When You’re Self Employed

self employed mortgagesIf you’re looking into getting a mortgage when you’re self employed you’re going to have a few hurdles to jump. It all starts with figuring out where you fit. Do you have a business history and an employment history that you can show? Do you know all the paperwork and hoops you’re going to need to jump through? If not, you’re going to want to work with us as your Toronto mortgage broker. Why get stuck in a situation where you’re unmortgageable when you can work with us?! Let’s take a look at how you can get the home you’ve always wanted and live the dream.

Why Special Mortgages?

Everyone is different, and if you’re self employed why are you going to try and get a mortgage for people with conventional jobs and conventional incomes? You’re going your own way and you need financing that matches up with your lifestyle – that’s where mortgages for the self employed come in. When you work with one of our Canada mortgage brokers we’ll help you look at your unique situation and really figure out if this is the right option for you. If not, we’ll look at other packages until we find the right fit! It’s all about you finding a mortgage that you can live with today and tomorrow.

Documentation is Key

You need to be able to document your self employment income – especially if you want your business income included in consideration when you’re trying to get a mortgage. 2 years of tax returns, business bank statements, personal bank statements, all these things and more are what you’ll need to show that you’re a good borrower that’s credit worthy. When you choose to work with us as your Toronto mortgage broker we’ll help walk you through the paperwork and make sure all your documentation is in order.

Talk to Someone in Person – Talk to Us!

While a lot of mortgage brokers and lenders will bank with you over the phone, there are just some things you need in person. We’ll walk you through all the paperwork, we’ll help you figure out what you need to do to get this ball rolling. You shouldn’t get stuck with a bad mortgage just because you’re not sure what you need. We’re not the banks, we’re your representative and we’re here to make you happy.

The More Money You Have the Better

The more money you have when you apply for mortgages for the self employed the better. If you can show you have that 20% on your own right now they’re going to know you’re responsible and ready to borrow. Don’t assume that you’re going to be able to get all the money to cover closing with the mortgage – show the lenders that you’ve got your party clothes on and you’re ready to go. Let us help you with the rest, we’ll get you prepared and the best rate for your situation.

To learn more about our great rates on mortgages for the self employed, click here!