You may be able to qualify for a self-employed mortgage more easily than you might think.
It is a common misconception that it is too difficult to obtain a mortgage if you are self-employed to even bother with trying. The reality is that there are many lenders who are happy to consider the different ways you can demonstrate your financial health and stability that go beyond what your company’s financials can prove. At Donna Mullen & Associates, we work with many different lenders and can help you obtain a self-employed mortgage by guiding you through what it takes to look favourable to lenders.
One of the things we go over with you is how to present your strength in the other 4 Cs of borrowing since it is more difficult to prove capacity (income) when you are self-employed. Capital, collateral, character, and credit could all be areas you excel in, and combined with providing a solid business plan and business financials, you may be able to qualify for a self-employed mortgage more easily than you might think.
Another thing you should know is that you do not have to jump on the first lender’s offer for a self-employed mortgage. We take the time to determine what makes the most favourable offer in terms of mortgage rate and other terms. Because we look at the entire picture, you’ll have a higher likelihood of meeting both your current and future financial goals. Let us help you not only qualify for a self-employed mortgage but obtain the right one for your situation.
Contact us today to schedule a free, no-obligation consultation to learn more about how a self-employed mortgage works and how we can help you achieve home ownership in Meaford, Ontario.
At Donna Mullen & Associates, we assist clients with self-employed mortgages in Wasaga Beach, Collingwood, Meaford, Owen Sound, Barrie, Sudbury, Sault Ste Marie, Thunder Bay, and Stayner, Ontario.