Self Employed

Getting a Mortgage When You’re Self-Employed

If you’re a self-employed borrower, you may have heard a lot of discouraging information from lenders. Getting a mortgage if you’re self-employed is easier than you think.

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Why choose
Mortgage Okanagan

Banks can be quick to judge self employed
loan applicants. Mortgage brokers, on the
other hand, are used to doing business with
non traditional applicants. 

  • Different banks have different guidelines for self-employed applicants, so having more than one choice is always a good option.
  • Getting a mortgage while self-employed doesn’t have to be painful. With a little more explanation and information, I’ll make it easy for you.

How to qualify

Getting a self-employed mortgage doesn’t have to be difficult or impossible. When you are self-employed there are a lot more options available. I will let you know when we talk what options may fit your situation and what will be needed from you.

Good to know

1

Whether you are a sole proprietor or incorporated, there are more options than you would think for getting approved for a mortgage.

2

The general guideline for being self-employed with an “A lender” is that you need two full tax returns with taxes paid to qualify for a mortgage.

3

If you make a lot more income than you claim personally, and you have the right amount for a down payment, then there is usually an option to get approved.

Resources for Self Employed Borrowers

Begin the Approval Process

Fill out the pre-approval application today.

Mortgage Application