Video: Getting a Mortgage When Self-Employed

Friday Oct 14th, 2022


Getting a Mortgage When Self-Employed

If you are self-employed, it can be a little harder for you to get a mortgage than someone who is an employee of a company that receives a regular paycheck and a Notice of Assessment at the end of the year.

If you are self-employed, most lenders will require that you’ve been self-employed for at least two years. Most lenders will also require that you provide the following information:

  • Your personal tax returns for the past two years
  • If you operate as a Corporation you’ll need to provide the income tax return for your Corporation for two years
  • If you’re part of a limited liability company, you’ll need to provide Article of Incorporation showing your share of  the company.
  • Your lender may also require additional documentation.

To make yourself most attractive to lenders, it is also helpful to have available cash in a savings account to demonstrate your ability to make mortgage payments even if your income fluctuates.

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