While many Canadians take advantage of self-employment opportunities, those who are self-employed sometimes face roadblocks when they are in the market to obtain personal financing, such as a mortgage or vehicle loan.
If you are self-employed, many lenders consider you a higher risk for a mortgage loan. This doesn’t mean you can’t get approved. It does mean you need a mortgage professional who understands the loans offered for such forms of income. You will need to be able to prove your income and that your income is consistently coming in. Not only now, but it is forecasted for the future too.
Not everyone works a traditional job for someone else, and you don’t have to feel intimidated if you are among them. There are wonderful lenders in Canada willing to give you a chance with a mortgage loan. They have special programs for the self-employed to help you get a residence and even for you to buy a lovely vacation home if you so desire.
Licensed professionals in the realm of mortgages understand this, and they strive to assist self-employed individuals. They will help you to get a great rate through a credible Canadian lender. They will help you with all of the paperwork and the necessary documents to get results.