Every money lender has unique mortgage guidelines for self-employed home buyers.
Designed for those without a traditional “proof of income,” these guidelines are applied to:
The lender requires a good credit history and proof of self-employment: GST number, etc.
The lender requires Revenue Canada “Notices of Assessment” to determine net income.
The lender requires alternative confirmation of income: bank statements, invoices, etc.
In all cases, lenders may also require proof you have no outstanding taxes still owed Revenue Canada.
Despite popular misconceptions, self-employed home buyers may still qualify for the lowest available interest rates.
Find out how you can, too!