Mortgage Brokers Offer Expert Advice to Self-Employed Borrowers
While self-employed borrowers face some unique challenges in securing a mortgage, we have access to a range of specialized products created for this group.
If you are self-employed, chances are the income shown on your tax returns has been reduced by several legitimate tax “write-offs.” Historically, this situation left self-employed individuals at a disadvantage to those on salary when it came to the mortgage amount for which they could get approved. We have access to an arsenal of mortgage products that will recognize “undeclared income” or allow declared income to be “grossed up.” These products will allow a self- employed borrower to qualify for a larger mortgage than has traditionally been available.
There are also a range of new mortgage product features recently introduced into the Canadian marketplace that make it easier for self-employed individuals to get a mortgage.
If you are self-employed and have had some credit issues, a mortgage broker may still be able to arrange a mortgage without the standard proof of income.
For expert advice on getting a mortgage that suits your individual needs, call us today.