Self-Employed

Low rates and excellent options for self-employed individuals looking to get mortgage financing.

When it comes to mortgages, it hasn’t always paid to be self-employed namely because reducing your taxable income can make it difficult to qualify for the mortgage you deserve.

We work with lenders that offer excellent mortgage options for self-employed Canadians. These lenders understand that self-employed individuals have tax write-offs creating significant reductions in their declared income. With these mortgage lenders, you will not be required to prove your income and a reasonable estimate of your annual income will be acceptable.

We are here to help you beat the banks … Give us a call today.

Self-Employed Mortgage

Empowering Your Entrepreneurial Dreams

Welcome to Mortgage Assurance, where we understand the unique financial journey of self-employed individuals. You’re in the right place if you’re a business owner, freelancer, or entrepreneur seeking mortgage solutions tailored to your specific needs.

Self-Employed Individual

When to Consider a Mortgage as a Self-Employed Individual

As a self-employed individual, deciding to invest in homeownership is an exciting venture, but it comes with unique considerations. Here are some factors indicating it might be the right time to explore a mortgage:

Stable Income: If your business has demonstrated a consistent and stable income over a reasonable period, it may be a good time to consider homeownership.
Financial Preparedness: Ensure your personal and business finances are in order. A healthy credit score, manageable debt, and a clear understanding of your financial situation are crucial.
Long-Term Stability: Assess your business’s long-term stability and future income projections. This is essential for choosing a mortgage that aligns with your financial goals.

How to Apply

How to Apply for a Self-Employed Mortgage

Gather Financial Documentation: Collect necessary financial documents, including tax returns, profit and loss, and business bank statements. Lenders will use these to assess your financial stability.
Understand Your Debt-to-Income Ratio: Calculate your debt-to-income ratio, a crucial factor lenders consider. This ratio helps determine your ability to manage monthly mortgage payments.
Pre-Approval Process: Consider getting pre-approved for a mortgage. This involves providing your financial information to a lender who will assess your eligibility and provide a pre-approval letter, strengthening your position when making an offer on a home
Seek Professional Advice: Engage with mortgage advisors who specialize in working with self-employed individuals. They can guide you through the process, helping you make informed decisions.

Process for Applying

The Process for Applying for a Self-Employed Mortgage

Consultation: Begin with a consultation with a mortgage advisor. This initial discussion will help determine your mortgage needs and establish a tailored solution.
Document Submission: Submit the necessary financial documents, including tax returns, business financial statements, and personal identification.
Income Verification: Lenders will carefully review your income documentation to assess your ability to repay the mortgage. This may include an analysis of business stability and future income prospects.
Credit Check: A credit check is conducted to evaluate your creditworthiness. A good credit score can positively impact the terms of your mortgage.
Approval and Closing: You move to the closing stage once your application is approved. This involves finalizing the details, signing the necessary documents, and officially securing your mortgage.

Why Choose

Why Choose Mortgage Assurance for Self-Employed Mortgages?

Expertise in Self-Employed Finances: At Mortgage Assurance, we specialize in navigating the financial landscape of self-employed individuals. We recognize your challenges in proving your income and securing a mortgage that aligns with your entrepreneurial success.
Personalized Guidance: Our team of experienced mortgage advisors takes the time to understand your business structure, income streams, and future projections. We believe in personalized guidance to ensure you receive a mortgage solution that suits your unique financial situation.
Flexible Loan Options: Self-employment shouldn’t be a barrier to homeownership. That’s why we offer a range of flexible loan options designed to accommodate the diverse income structures of self-employed individuals. Whether you’re a sole proprietor, a partner in a business, or a freelancer, we have solutions for you.

Advantage

The Mortgage Assurance Advantage

Streamlined Application Process: We know your time is valuable. Our streamlined application process simplifies the mortgage journey for self-employed individuals. With Mortgage Assurance, you can expect efficiency without compromising thoroughness.
Competitive Rates: Our commitment to fair and competitive rates ensures you get the best mortgage terms. We believe in transparent pricing, allowing you to make informed decisions about your homeownership journey.
Expert Advice Every Step of the Way: Navigating the mortgage market can be complex, especially for self-employed individuals. Our team of mortgage experts is here to guide you through every step of the process, offering clarity and support to make your journey seamless.

Get Started Today

Your dream home is within reach—Contact Mortgage Assurance today to explore personalized mortgage solutions crafted for self-employed individuals. Empower your homeownership journey with a partner who understands the intricacies of your entrepreneurial spirit.

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