Mortgages for the Self-Employed

More than 10% of all Canadian workers are self-employed, according to the latest data from Statistics Canada (2016). Are you one of them? Do you earn a commission-based salary? If the answers are yes, did you have a smooth funding of your last mortgage with a bank?

At Valueland, we understand your needs. Our lenders look at your credit and business financials rather than personal tax notice of assessments.

Here are some great programs available from Valueland:

(1) 65% of Your Home Value (i.e. Price)

You will get excellent interest rates if your credit is excellent. Many products to choose from including the Most Wanted Deals. You only need to provide us with last year's Notice of Assessment showing that you do not owe Revenue Canada any money. If you purchase a home, you need to show your savings by three months' bank statements. Gifted money is allowed in this cases.

(2) 80% of Your Home Value (i.e., Price)

If you have excellent credit history, you are able to get a very good mortgage without CHMC insurance premium. We need to see your last 12 months business bank statements and your last year's NOA to show no money owing to CRA. This requires that you have been self employed for not less than two years. 

(3) 80.1% to 90% of Your Home Value (i.e., Price)

The property value/purchase price has to be less than 1 million for this case. No true income is required for this mortgage; the lender will base their approval on your credit rating and the reasonability of your income to your profession! Interest rates are competitive. You are required to pay insurance premium and certain lender fee.

(4) Self Employed without Good Credit History

We have lenders who funds mortgages for this as long as you have at least 15% of downpayment (or equity) in your home. Valueland has access to these non mainstreet banks that help you to own your home at an affordable cost.

No matter what unique situations you have, at Valueland, we work hard to find best mortgage products available on the market and negotiate for a better deal on behalf of you. Please contact a Valueland specialist for further information.

What is the next step?

Contact Valueland for your unique situation/needs;

Download Application Form here Or Start Online Application Here.