Self Employed Mortgage

Often referred to as No Income Qualifier (N.I.Q.), it is generally understood that self employed people show lower incomes on their income tax returns than a salaried employee due to the amount of additional write-offs they are allowed.

This used to make it very difficult for self employed people to obtain any form of financing without a large down payment. Recent changes in the mortgage industry now allow us to obtain mortgages for self employed people for as little as 5% down with a minimum two year history of self employment.

What if you haven't been self employed for two years? The good news is with 10% down we can get you approved with as little as one day of self employment. All you need a good credit history and proof that you have no outstanding income taxes from Revenue Canada, along with two third party documents showing self employment (i.e. GST return, corporation papers or a business licence to name a few).