Self Employed Mortgage
Obtaining financing can be hard enough these days, but when a borrower is self-employed there can additional qualifying challenges. Dominion Lending Centres specializes in self-employed mortgage financing. Gone are the days of needing two years of Self-employed income! Not a lot of income being claimed? We will look at your bank statements, not your T1 general. Give us a call today!
Benefits of Self-Employed Mortgages
In many cases, self-employed borrowers show much less income on their tax returns than what they actually make so qualifying under normal “A” lending and debt service ratios can be difficult.
Our Team works with lenders that will allow income to be grossed up and/or use the true cash flow of the business through bank statements to qualify. The self-employed mortgage doesn’t have to be private or alternative lending and in many cases, borrowers can still get “A” rates with major banks and prime lenders.