As a self-employed individual, applying for a mortgage can seem like a complex process due to the unique income verification requirements. Traditional income documents, like pay stubs and T1 slips, don't always apply to self-employed borrowers, making it crucial to understand how to verify your income efficiently and accurately.
Read MoreEntering the world of homeownership as a self-employed individual can be a complex process, and considering a joint mortgage adds yet another layer of intricacy. This calls for a deep understanding of the key considerations, benefits, and challenges of applying for a joint mortgage as a self-employed borrower.
Read MoreThe journey to homeownership or property investment can be challenging for anyone, but it can be especially tricky for self-employed individuals seeking mortgage financing. Self-employed borrowers often face unique hurdles that can make securing mortgage financing more complicated than it is for their traditionally employed counterparts.
Read MoreFor many self-employed Canadians, the prospect of applying for a mortgage can be daunting. With fluctuating incomes, complex tax returns, and differing mortgage requirements, navigating the application process can be a considerable challenge.
Read MoreThe self-employed workforce in Canada continues to expand, with more Canadians opting for the flexibility and autonomy that comes with owning their own businesses or working as freelancers or contractors. While self-employment affords many benefits, it can also pose challenges to securing mortgage financing due to income fluctuations, unconventional documentation, and tighter lending criteria.
Read MoreAs a self-employed individual, navigating the mortgage process in Canada can be a complex and challenging endeavour. With unconventional income streams, fluctuating revenues, and the absence of standard employment documentation, self-employed borrowers may struggle to meet the stringent criteria set by traditional mortgage lenders.
Read MoreExplore private mortgages as an alternative financing option for self-employed individuals and investors in Canada. Understand the benefits, risks, and factors to consider with Level Up Mortgages.
Read MoreLevel Up Mortgages simplifies the mortgage journey for self-employed individuals, providing expert insights and guidance on successfully obtaining mortgage financing tailored to their unique needs.
Read MoreAs a self-employed individual, you may face unique challenges when it comes to getting a mortgage. Unlike traditional employees who receive a steady paycheck, your income can vary from month to month or year to year, making it difficult to prove to lenders that you can make your mortgage payments.
Read MoreIn today's article, let's look at mortgage options for the self-employed. Here's what you need to know:
Read MoreThis article provides insight into the current options and capabilities for self-employed mortgages in Canada in 2023. Read on!
Read MoreToday, we’ll look at mortgages Canadians who are self-employed can qualify for. We’ll also tackle how the self-employed can present their creditworthiness.
Read MoreObtaining a mortgage when you’re self-employed can feel overwhelming at first. You can’t follow the traditional path of earning a steady salary, but it’s still easy to manage.
Read MoreThere are many nuances to succeeding with your mortgage as an entrepreneur, but in this article, we're going to cover the first major considerations, including what trade-offs you need to balance when it comes to paying less taxes, and also how you can qualify for the mortgage you need.
Read MoreTraditionally, the mortgage application process is relatively fast and easy, especially for someone with a steady income from a full-time job. Applicants can provide their bank statements and credit score to prove their income and the value of their property before they receive approval.
Read MoreIt's not impossible to get a loan in Canada if you're self-employed. Usually, that just means more documentation is required. Largely, it's so that clear proof comes through about your income. If you had a regular employer you'd get paychecks and the like; since you employ yourself, you need to prove how consistent your pay is and for how much.
Read MoreWith 15% of Canadians now being self-employed and COVID-19 being the catalyst to increasing this number, lenders are taking notice by reviving their stated income programs for entrepreneurs to afford more even though they declare less income.
Read MoreAfter a series of good news the last few weeks with mortgage rates dropping below 2% and the easing of the stress test, home buyers with under 20% down payments are about to afford 10-15% less starting on July 1st.
Read MoreAs the COVID-19 global battle ensues, there have been decisive action by the Canadian government to give small businesses and workers the best chance of weathering the storm. We have compiled a live list of government grants and cash flow strategies that we believe are worth consideration for your small business so that you can continue to save for a mortgage down payment or make current payments on time.
Read MoreOnly one-third of Canadians check their credit score before applying for a mortgage. Even fewer actually know what factors can improve or damage their credit score.
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