It’s taxes versus a mortgage for the self-employed

Eighty of mortgage broker Dustan Woodhouse’s clients who were approved for a mortgage in 2011 wouldn’t have qualified for the same mortgage today. In the summer of 2012, Canada’s financial regulator introduced Guideline B-20 as a way of tightening up the banks’ approval processes. Part of B-20 requires banks to examine incomes more closely, but […]

Mortgage rules may be tighter for the self-employed, but options remain – Consult with a Vancouver Mortgage Broker

If you are self-employed, live in a rural area or don’t have the best credit, you may find it increasingly difficult to get a mortgage. Yet while tighter lending rules are making it harder for some people get approved by a bank, going to a second or third-tier lender isn’t something everyone is comfortable with. […]

Why it’s harder for self-employed to get a mortgage – Contact a Vancouver Mortgage Broker

Why it’s harder for self-employed to get a mortgage Self employment is more common, but banks are more cautious about giving mortgages to people who fall into this category. By: Ryan Starr Staff Reporter., Published on Fri May 10 2013   Vick Vij knows all about the challenges self-employed folks face when they try to get a mortgage. […]

Mortgages and loans – harder for the self-employed?

NANCY CARR Special to The Globe and Mai Published Monday, Oct. 01 2012, 12:10 PM EDT As a self-employed website developer who had recently restructured his business, Greg Schmidt knew that refinancing his mortgage wasn’t going to be a piece of cake. “I had a little bit of a line of credit built up from shifting the […]

Mortgage Options for Self Employed

For self-employed borrowers, the general criteria that must be satisfied include: 2-years self-employed tenure is recommended, however some lenders will consider borrowers with less. Proof of self-employment tenure must be on file. For example, business license, T1 General etc. The “stated” income should be reasonable based on the type and size of the business. Strong […]

Experience West Coast Living!