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Our personalized approach considers your credit score, rate fluctuations , future equity and refinancing options ensuring a mortgage plan that aligns your long-term aspirations
Yes, self-employed individuals can qualify for a mortgage. Lenders may require additional documentation, such as tax returns and profit/loss statements, to assess your income stability and creditworthiness.
Lenders typically analyze your average income over the past two years to determine loan eligibility. They may consider your net profit, business expenses, and other sources of income, aiming to ensure you can afford the mortgage payments.
While the process may require more documentation, selfemployed individuals can secure a mortgage successfully. Our experienced team specializes in assisting self-employed buyers, ensuring a smooth and efficient approval process.
In some cases, using businessfunds for a down payment may be acceptable, but it must be well-documented. Our experts can
guide you through the appropriate steps to use business funds for this purpose.
Self-employed individuals may have the flexibility to deduct certain expenses, which can lower their taxable income and potentially qualify for a higher mortgage amount. Our team will leverage your unique financial situation to find suitable mortgage options.
Maintaining detailed and organized financial records is crucial for a smooth mortgage application process. Reducing debts, improving credit score, and providing clear documentation are key steps to enhance approval prospects.
Yes, there are first-time homebuyer programs available to self-employed buyers. We can help you explore these options and identify incentives that align with your specific financial circumstances.
As your mortgage broker, we understand the complexities of self-employed income verification. We have access to multiple lenders and can match you with the best mortgage products, streamlining the approval process.
While there are no specific mortgage programs exclusively for self-employed buyers, various conventional and government-backed loan options cater to your needs. Our team will analyze your financials and recommend the most suitable program.
Yes, it is possible to secure a mortgage with a shorter work history. Lenders may consider other factors, such as education, industry expertise, and overall financial stability, when evaluating your loan application.
We’ve been told it is not possible to overachieve our customer’s expectation. we have not reinvented the wheel, we decided to build upon it.
Unique Circumstances:
Client, a self-employed professional, faced unique challenges as a first-time
homebuyer. Her fluctuating income and lack of traditional employment records
posed hurdles in securing a mortgage.
Shelto's Tailored Solutions: We recognized Client's needs and designed customized solutions. We helped her organize financial documents, sat with client to understand the nature of work, the reason behind income fluctuation. We discover that her income varies with season as she runs a restaurant in a beach soar, and also own a cottage which make high rental income in summer. After analyzing client's business, we prepare a note to explain the lender underwriting team that although client's income is seasonal but its consistent over last three years, annualized. We also presented client other strengths of the deal, which helped us to get approval smoothly.
We’ve been told it is not possible to overachieve our customer’s expectation. we have not reinvented the wheel, we decided to build upon it.
Unique Circumstances:
Client, a self-employed professional, faced unique challenges as a first-time
homebuyer. Her fluctuating income and lack of traditional employment records
posed hurdles in securing a mortgage.
Shelto's Tailored Solutions: We recognized Client's needs and designed customized solutions. We helped her organize financial documents, sat with client to understand the nature of work, the reason behind income fluctuation. We discover that her income varies with season as she runs a restaurant in a beach soar, and also own a cottage which make high rental income in summer. After analyzing client's business, we prepare a note to explain the lender underwriting team that although client's income is seasonal but its consistent over last three years, annualized. We also presented client other strengths of the deal, which helped us to get approval smoothly.
The knowledge hub for borrowers, offering valuable insights and resources to make informed mortgage decisions with confidences
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Prabhjot@shelto.ca
647-917-7681
6733 Mississauga Road, Suite 700 , Mississauga , ON-L5N 6J5
