Self Employed

Self employed mortgages can be a little different. With a self-employed mortgage it boils down to two questions:

Have you been self-employed for more or less than 3 years?

The documentation required by lenders differs depending on the length of time that you have been self-employed.

 

  • Last two years of company financials
  • Business or GST license confirming self-employed status and operational less than 3 years
  • Articles of Incorporation

Can you provide traditional proof of income?

Traditional proof of income is third party documentation that validates the income that is stated on the application. Examples of third party documentation are Notice of assessments, audited financials, and T1 generals. When an applicant does not have third party documentation we then have to “state” the income.

The information above is simply a guideline for preliminary documentation that will be required. Each mortgage transaction is unique and may require more documentation.