Self Employed Mortgage

self employed mortgage


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 can help self employed entrepreneurs get the mortgage they need.


Self employed borrowers 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 (gift down payments which are not permitted) can purchase an owner occupied 1-2 unit property with 10% down. Commission-based borrowers do not qualify without 3rd party validation. Self employed borrowers who do not have proveable income do not qualify with a non traditional down payment

If you are looking for a mortgage for your business, see commercial mortgage.


For more information on self employed mortgage options in Ontario call today or apply online.