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Self-employed
No Income & Low Doc Mortgages |
Mortgages for Self-EmployedStatistics show that nearly 20% of all income earners in Canada are now self-employed (business-for-self). This is a large and growing demographic, which brings up the question, "Why is it so difficult to get a mortgage through a chartered bank if you're self-employed?" That's because many business-for-self owners minus expenses in lieu of extra income, something most banks will not recognize. At CanEquity Mortgage we understand your needs. Our lenders look at your credit history rather than business financials and personal tax notice of assessments. This is something most mortgage lenders won't do. With CanEquity Mortgage and our preferred lenders, you will find a product that is right for you. Here are just some of the great products available: The Low Documentation (Low Doc) MortgagePurchase a new property or refinance your existing home up to 90% of its appraised value. No true income is required for this mortgage; the lender will base their approval on your credit rating rather than actual net income!! You will need:
Some restrictions apply. Please fill out our easy-to-use low-doc mortgage application or contact one of our representatives today to qualify! No Income MortgageWith the No Income Mortgage, you can purchase a new property or re-finance your existing home up to 75% of its appraised value. Income and credit do not have to be perfect. With 25% down or at least 25% equity CanEquity can obtain a mortgage for almost any income or credit situation. The better the credit history the better the rate!Please remember each application is unique and these are just some examples of the current products available to business-for-self persons. Here are a few things to remember when shopping for a mortgage:
CanEquity works hard to bring products like these into the Canadian mortgage market. Contact your CanEquity mortgage broker for further developments. * Mortgage interest rates are subject to change without notice at any time. Some rates may be subject to minimum credit score, loan amount and may only be available certain lending areas. A quick closing loan condition may be required. Does not apply to preapprovals. Contact CanEquity for details. Although every attempt is made to ensure the accuracy of our website, the above mortgage information should only be used as a guideline and CanEquity makes no guarantees on any rates shown. CanEquity Mortgage always recommends that you consult a mortgage broker before making a decision. For any mortgage related questions or to speak to one of our mortgage specialists, please call 1-888-818-4262. CanEquity does not guarantee to have the lowest rate in Canada. We do make every attempt though to find the best deal possible for all of our clients.
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Prime means "best," and this is the rate that banks charge their absolute best customers for loans. Changes in the prime rate influence changes in other rates, including variable interest rate mortgages. This rate fluctuates based on economic conditions.
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