Self-Employed Borrowers
Statistics show that nearly 20% of all income earners in Canada are now self-employed. By any standard, this is a large demographic. Nonetheless, it raises the question, "Why is it so difficult to get a mortgage through a chartered bank if you are self-employed?" It's because not only does their income fluctuate depending on the stability of their business, but those who are self employed also have the ability to write-off more expenses than salaried employees. These write offs may not truly reflect their earning ability. The self employed may enjoy the tax savings but conversely often have difficulty obtaining financing.
Joanne understands your needs and works with lenders who look at the “big picture” and practice common sense lending. This is something many mortgage lenders won't do. If you have been self-employed you can now achieve home ownership with as little as 10% down.