Mortgage refinancing is taking out a new loan to repay your existing mortgage. You may do this to take advantage of lower interest rates, to change the term of your loan, or to tap into the equity you've built up in your home.

Today, 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.

Obtaining 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.

There 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.

Traditionally, 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.

It'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.