Self Employed Mortgage Loans
Being self-employed certainly has its perks; it also has its drawbacks. Trying to get mortgage financing is proof of this. Most lending institutions require a slew of paperwork which is not very easy to produce. Having all the necessary documentation to prove your income is not an easy task and is, in some cases impossible. This is where we excel. We can help you establish what mortgage lenders will require in advance and if you are unable to provide certain documents we will work to find a lender that will be forgiving of your circumstances, make an exception or find another way of proving what you are trying to show them.
While most people have a tendency to use write-offs to lower their income they are effectively making it more complicated to get a mortgage or refinance an existing one. Major Banks and their respective insurers want to make sure that you can afford to make your payments. It is hard to ensure that you can, if your income tax statements (notices of assessment) say that you don’t make enough money to do so because you reduced your income to help save at tax time. We are experts at understanding and analyzing how you can utilize your write-offs to qualify for financing. Just because you have taken advantage of a tax reduction does not mean that you should suffer in other areas and we are here to ensure this does not happen.
Besides being hard to prove income it is also hard to prove consistency. When you are applying as a self-employed client, most financial institutions want to see that you have several years of income that is not fluctuating. For anyone that is, or ever has been self-employed you know that you can have years where you earn exceptional income and years where you seem to just barely survive. An experienced mortgage broker can help you bridge the gap between your most lucrative years and your less productive ones. We all have ups and downs in our lives and just because you are in a slump does not mean that you are beyond help. Reaching out to refinance in a time of need can be exactly what you need to get back on track. Sometimes even the most successful business in the world need to restructure at one time or another.
Sometimes proving you make the money you claim when you are self-employed you earn is just not possible at all because you are behind on your filing, perhaps you don’t claim all the income you earn or you just don’t have a track record long enough to provide sufficient documentation. Does this mean that there is no way for you to qualify for a mortgage or are ineligible to refinance an existing mortgage? If your bank has told you no, this does not mean that there are not plenty of lenders out there who would be willing to help you out. We specialize in alternative, hard to place mortgage financing for self-employed individuals. We have well established relationships with a variety of lenders for virtually every situation. We deal with lenders who understand the struggles of being self-employed and who are only too happy to steal the big banks customers simply because they might be unable to provide documentation.
Being self-employed can be a roller-coaster ride at the best of times and there are lenders out there that realize this. We have paired ourselves with a variety of like minded lenders who understand that being your own boss does not come without it struggles and documentation, credit and the ability to prove income can be overwhelming at times. The alternative lending institutions we deal with are in direct competition with the major banks and poised to scoop the clients up that they let fall through the cracks because of minor transgressions.
So whether you are a self-employed entrepreneur looking to get a secured line of credit, a waitress who can’t prove tips or a well established self-employed business type looking to create liquidity, we can help. Call today, toll-free and stop worrying about the paperwork and let an expert handle your situation: 1-866-668-6570!
Our self employed borrower options are available to residents living anywhere in Canada - some of the clients we have already provided assistance to reside in these areas:
Ajax, Abbotsford, Barrie, Beaverton, Belleville, Bolton, Bowmanville, Bradford, Brampton, Brantford, Burlington, Burnaby, Calgary, Cambridge, Campbellford, Carleton Place, Chatham, Clarington, Collingwood, Coquitlam, Courtice, Delta, Durham Region, Edmonton, Fenelon Falls, Georgetown, Gravenhurst, Grimsby, Guelph, Haliburton, Hamilton, Kelowna, Keswick, Kingston, Kitchener, Kitchener, Langley, Lethbridge, Lindsay, London, Maple, Maple Ridge, Markdale, Milton, Mississauga, Newmarket, Niagara Falls, Oakville, Ontario, Orangeville, Oshawa, Ottawa, Peterborough, Pickering, Port Colborne, Port Hope, Port Perry, Red Deer, Regina, Richmond, Richmond Hill, Saskatoon, Scarborough, St. Catherines, Sterling, Stoney Creek, Sudbury, Thornhill, Toronto, Trenton, Tweed, Unionville, Vancouver, Vaughn, Welland, Whitby, Winnipeg, and Windsor.
