Ontario Oakville

Ontario Oakville.ca

Self-Employed? Secure a Mortgage in GTA

Posted by samanthas on June 17, 2013 in Home Living Tips with No Comments

self-employed mortgage OakvilleThere are plenty of reasons why the banks turn home owner hopefuls down for a mortgage. Bad credit, low income, lack of adequate down payment and being self-employed are just some of the reasons why getting a mortgage with a traditional bank can be almost impossible. Canadian mortgage rules along with banks are becoming more and more stringent in their rules and criteria to provide borrowers with the mortgages they need to buy a home. Unfortunately, for many, getting this mortgage can be a real challenge, and can be a stressful situation for many.

In particular, if you’re self-employed, you may not have the adequate amount of history showing positive cash flow. You might be earning commissions that are not necessarily adequately identified at tax time. Many banks look at those who are self-employed as a big risk, particularly if the business is fairly new and is small in magnitude.

The good news is that looking to a bank is not the only option. Working with an independent mortgage broker can be the answer you are looking for to secure the mortgage you need. Brokers will look around at various lenders who are in the business of supplying mortgages to people who are self-employed. They understand your needs, and will look at things other than your financials and tax notice of assessments.

Many lenders will supply self-employed mortgage Oakville for Ontarians. Brokers will negotiate the best rate possible, and will help to arrange a mortgage package that best suits your needs and your situation.

If you’re in the Oakville and surrounding area, work for yourself and are looking for a self-employed mortgage Oakville, give Marcelle Tiqui a call at the House of Mortgage Experts. Marcelle is an independent mortgage expert with lots of experience dealing with hard-to-get mortgages, such as those for the self employed. Call her team today at (905) 208-7070 to get started securing your mortgage!


« previous post

The Effectiveness and Efficien...

commercial construction company MississaugaAny commercial construction project can be successful if the planning is done well ahead o...

next post »

Tips for Filling Your Rental P....

carpet-maintenenace-company-oakvilleAre you a property manager or real estate professional who has properties that you are res...

Leave a Reply

No trackbacks yet.

Posts with similar tags
Posts in similar categories