Self Employed Mortgage in Ontario
Being self employed is a liberating experience however being self employed can also make obtaining a home mortgage from a bank a difficult task. A mortgage broker can help self employed entrepreneurs get the mortgage they need.
If you are looking for a mortgage for your business, see commercial mortgage.
Self employed borrowers can obtain up to 95% purchase financing depending on a couple of factors.
- Have all taxes been filed and if so, for how many years?
- The applicants credit score
- The ability to track the income and expenses
- Are taxes being filed by an accountant
The absence of some or all of the above items is not critical to obtaining a self employed mortgage however it may have an impact on the down payment or equity required.
For more information on self employed mortgage options in Ontario call today or apply online. Get in touch with a mortgage broker who can help you.