Self Employed Mortgage
A self-employed individual is someone who owns and works for his own business. An entrepreneur or a business owner is what they are called. If you are one, you are well aware of how hard it is to get the Self Employed mortgage. A traditional mortgage has multiple conditions and so many rules to follow and so many criteria to fill. Most of the self-employed individuals do not check off all the items on the list for a traditional mortgage. This can be quite a disheartening experience.
In this ever-changing world of mortgages, Self-employed Canadians are gaining the reputation of being an excellent and reliable customer group. There are still a few things that can hold a lender back from lending you the amount to finance your dream home. Here is what you can do about it:
Make yourself lender worthy:
Credit history: Most self-employed Canadians carry out their transactions in cash. They make the mistake of assuming that having no credit history can actually help them. But lenders look at your credit history to understand if you are capable and honest enough to make your payments on time. If you haven’t already, then you should start buying a few credit cards and other debt instruments to establish a credit history.
Income statement: Since you run your own business, you are in charge of your own income tax. Some individuals may show a lesser amount than they actually accumulate. This could harm your final amount. If you are aiming for a higher mortgage, you need to make the payments for the last few years for a larger sum than you originally paid for. But this doesn’t mean that you go beyond your budget.
Documentation: As a self-employed Canadian, you will have to provide a lot more documentation than a regular borrower. You will need to provide proof of ownership for your business and other related documents as well. This would require you to start collecting all the documents and making an organized file to ensure a quick process,
Planning: The last minute rush to get things done has a different kind of excitement and thrill to it. But with a decision like getting a Self Employed mortgage to finance your biggest investment, planning ahead pays off.
How can we help to get Self Employed Mortgage?
We work with self-employed Canadians every day and understand their issues. Your dream for home ownership should not be just a dream! Whether you are buying a home or getting a treatment for your teeth, you always want the best to get the job done. Then why should you compromise when making the biggest investment of your life? This is why you should consult and hire a mortgage agent. We can simplify the process for you while simultaneously getting the best rates.
Your Mortgage Consultant can advise you on how to improve your options and get the best possible rate for self Employed mortgage.They can give you tips and tricks on how to spice up your application for a mortgage and become lender worthy with ease.
We help you stay focused on your business, by alleviating the burden of attending to the time-consuming and frustrating tasks associated with securing a mortgage. We’ll can also work around your hectic work schedule.
We work for YOU, not an institution. The more complex your mortgage situation, the more sense it makes to find an experienced mortgage professional who can customize a Self employed mortgage to meet your short-term needs and your long-term financial plan.
You bring everything to your business.So, why shouldn’t you get everything from your biggest investment?Contact us to get the best from your biggest asset.