Why choose EasyMortgageLend?

Our self employed mortgage solutions are designed to address the specific needs of self-employed borrowers. We understand that with varying income sources and irregular cash flow, it can be difficult to meet lender requirements and get approved for traditional mortgages. That’s why we take your individual circumstances into account and provide tailored recommendations based on what you can afford and need. Whether you’re looking for a fixed rate, adjustable rate, or anything else in between, our self-employed mortgage broker s will have the right solution for you.

What documents do I need for a self-employed mortgage application?

When applying for a self-employed mortgage, you will usually need to provide proof of your income such as tax returns, business formation documents, bank statements and proof that you have been self-employed for at least two years. Additionally, lenders may also require additional documentation such as proof of assets or other forms of income.

How much can I borrow with a self-employed mortgage?

The amount you can borrow will depend on several factors including your credit score, debt-to-income ratio, current income level and the type of loan product you choose. Generally speaking, self-employed borrowers can typically borrow up to 90% of the property’s value.

What interest rate will I be charged for a self-employed mortgage?

The interest rate you are offered on your loan will depend on several factors including your credit score , income level and the type of loan product you choose. Generally speaking, self-employed borrowers typically receive higher interest rates due to the increased risk associated with their income structure. However, some lenders may be willing to offer lower rates depending on your financial situation. Connect with us today to get the answers you need!

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Call: (647) 895-3921

Email: info@easymortgagelend.com

Address: 675 Cochrane Drive, Markham, Ontario L3R 0B8, Canada

Self Employed Mortgage in Markham

Our self-employed mortgage products are designed to help entrepreneurs, freelancers and other self-employed individuals buy their own homes or refinance existing mortgages with competitive rates and flexible terms.

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Self Employed? Let Us Help You Get the Financing You Need

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We understand the unique challenges self-employed individuals face when it comes to obtaining a mortgage. Our team of experienced mortgage brokers can help you navigate the complex process and find the right loan solution for your needs.

A mortgage for self employed individuals is different from a regular mortgage in several ways. Firstly, self-employed borrowers may have trouble providing income verification documents like payslips or tax returns that are normally needed by lenders. Secondly, due to their irregular income stream, they may be classified as high-risk borrowers which could potentially affect their eligibility for certain types of mortgages or loan amounts. Fortunately, we offer specialized solutions tailored specifically to self-employed individuals looking to buy a property or refinance their current mortgage.

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Factors To Consider When Applying For A Self-Employed Mortgage

Whether you’ve been working for yourself for a few months or years, it's important to understand how lenders look at your situation before taking out a loan.

01

Your Tax Returns

Mortgage lenders typically require two years of tax returns from borrowers who are self-employed. This is to ensure that your income is consistent enough over time to support the loan repayment. Even if you have a steady stream of income from freelance or contract work, lenders will want to see evidence of this on your tax return.

02

The Amount Of Debt You Have

Mortgage lenders will review your credit report and look at any debts or liabilities you have before approving a loan. This includes student loans, auto loans, credit card debt and other obligations. The more debt you have, the harder it will be to qualify for a mortgage.

03

Your Cash Reserves

Lenders also look at how much money you have in liquid assets such as bank accounts, stocks and bonds when evaluating your loan application. Having enough money set aside to cover several months of payments could help give lenders confidence that you can afford the loan repayment even if something unforeseen should happen with your income.

04

Self-employment Income Verification

Lenders may ask for additional evidence of your self-employment income beyond tax returns. This could include bank statements, invoices and other documents that provide proof of your income. By understanding these factors and being prepared for the application process, borrowers can increase their chances of getting a self-employed mortgage.

We make getting a self employed mortgage easy and stress-free by providing professional advice and guidance throughout the entire process.

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Frequently Asked Questions

Answered below are some of the questions we most commonly receive.

Why choose EasyMortgageLend?

Our self employed mortgage solutions are designed to address the specific needs of self-employed borrowers. We understand that with varying income sources and irregular cash flow, it can be difficult to meet lender requirements and get approved for traditional mortgages.

That’s why we take your individual circumstances into account and provide tailored recommendations based on what you can afford and need. Whether you’re looking for a fixed rate, adjustable rate, or anything else in between, our self-employed mortgage broker s will have the right solution for you.
What documents do I need for a self-employed mortgage application?

When applying for a self-employed mortgage, you will usually need to provide proof of your income such as tax returns, business formation documents, bank statements and proof that you have been self-employed for at least two years. Additionally, lenders may also require additional documentation such as proof of assets or other forms of income.
How much can I borrow with a self-employed mortgage?

The amount you can borrow will depend on several factors including your credit score, debt-to-income ratio, current income level and the type of loan product you choose. Generally speaking, self-employed borrowers can typically borrow up to 90% of the property’s value.
What interest rate will I be charged for a self-employed mortgage?

The interest rate you are offered on your loan will depend on several factors including your credit score, income level and the type of loan product you choose. Generally speaking, self-employed borrowers typically receive higher interest rates due to the increased risk associated with their income structure. However, some lenders may be willing to offer lower rates depending on your financial situation.

Connect with us today to get the answers you need!