Self-Employed Mortgages | Tony Piattelli | Calgary Mortgage Broker

SELF-EMPLOYED MORTGAGES

Are you self-employed and finding it difficult to find a mortgage? While difficult, it’s not impossible. Let’s work together to find you the right mortgage.

The greatest challenge for those who are self-employed is proving income. In order to obtain a self-employed mortgage, most lenders require that personal tax returns and Notices of Assessment from the past 2-3 years be included with the mortgage application. 

 

Those who are able to provide this proof of income can generally access the same mortgage products and rates as traditional borrowers, while those who cannot must at least have a good credit history and provide a minimum down payment of 10%.

 

In addition to your Notices of Assessment, some of the other supporting documentation a lender may require for a self-employed mortgage application include:

  • Financial statements for your business,

  • Proof that your HST and/or GST is paid in full,

  • Contracts showing expected revenue for the coming years,

  • Your personal and business credit scores,

  • Proof that you are a principal owner in the business,

  • A copy of your borrower’s business or GST licence or Article of Incorporation showing you are licensed,

  • Proof that your down payment has not been gifted.

QUALIFYING FOR A SELF-EMPLOYED MORTGAGE

Tony took care of us from the beginning to end. Was able to communicate what would happen with clarity and ease.

Steven P.

ARE YOU STRUGGLING TO SECURE A MORTGAGE BEING SELF-EMPLOYED?

Alberta is home to many successful entrepreneurs-including myself. But getting a mortgage while being self-employed is tricky. Let's determine what steps we need to take to secure the right mortgage for you.

Self-Employed Mortgage | Tony Piattelli | Calgary Mortgage Broker