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Saving Money on Mortgages for the Self Employed

\"selfWhen you’re trying to get a mortgage for the self employed, you’re always going to be on the lookout for savings, but what can you do? Most people don’t have the negotiating power they need on their own, and that’s where we come in. When you work with us you get all the help you need to get the mortgage that’s right for you. Working with us as your Canada mortgage broker not only helps you save money now, you’ll be able to see big savings later too. Here we’re going to go over everything you need to know to save big, so let’s get started.

What’s Different?

When you’re looking at mortgages for the self-employed you might ask yourself what’s so different? After all, you’ll have interest pay, monthly payments to make, and a mortgage on your house – it can’t be all that different can it. Virtually everything’s the same, except that the criteria are skewed towards your lending needs. People who’re self-employed may not have a monthly paycheck, they may have a harder time proving their income, maybe they don’t have established credit. Whatever it is you’re going to need to make sure that you’re choosing the right one for you.

With mortgages for the self employed you’ll be able to make sure that you’re working with lenders that understand your situation. You won’t have to worry about being turned down just because you have a different kind of income situation. You will want to work with one of our Toronto mortgage brokers though, because there’s a lot of paperwork you’re going to need to fill out.

Why do Lenders Avoid Self-Employeds?

Many lenders don’t want to work with people who’re self-employed; they have their reasons, but mainly boils down to economics. They need to make sure whoever they lend money to has the money to pay it back – and with mortgages for the self-employed you never know if you’re going to still have a job. Since more and more Canadians are taking this kind of approach to work though, more and more lenders are more amenable to mortgages for the self employed.

If you want to make sure you get approved for mortgage, you need to make sure that you’re getting the one that’s right for you. Working with one of our Canada mortgage brokers you’ll be able to figure out if you can qualify for conventional mortgage or if you need to get more outside the box financing.

How Can You Save?

You’ll want to be able to save on your monthly mortgage payment, get a low interest rate, and favorable loan terms – the last thing you want to be is penalized for paying off your mortgage early right? When you work with us, we’ll make sure this doesn’t happen to you. Being self-employed is hard enough you shouldn’t have to worry about being able to get mortgages for the self-employed. If you’d like to learn more, visit our self employed mortgages page today!

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