Self-Employed Individuals

We provide home loans to people without full-time employment, such as owners of small businesses (including startups), entrepreneurs, freelancers, part-time workers, contractual employees, and those declined by national banks as well as other mainstream lenders. Since the reported net income of self-employed Canadians is not always deemed as substantial as that of their salaried peers, the former group is more likely to be considered and approved for self-employed housing loans instead of traditional mortgage programs.

Note that the majority of lenders in Canada ask for assessment notices of the previous two to three fiscal years to evaluate your loan repayment potentiality by analyzing your personal income when applying for a mortgage. As long as you can prove your creditworthiness, you will be offered the very same interest rates and loan packages that conventional borrowers enjoy.

Furthermore, you may also need to submit necessary supporting documents to substantiate that you have paid the Goods and Services Tax (GST) and/or Harmonized Sales Tax (HST) in full, you are the primary owner of your business, a duplicate of your GST/business license/articles of incorporation, and that your down payment amount is not gifted, amongst other records. The said financial evidence must be provided by the prospective borrower before his or her loan processing can begin.

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