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Self-Employed Mortgage Rates

self-employed mortgage rates burlington
Do you work for yourself? Are you looking to buy your first home? Well if so, HW Advantage can help you find self-employed mortgage rates in Burlington that suit your specific needs. When you choose HW Advantage, you can have confidence knowing that you are in the best hands when you are looking for the best possible mortgage rates. We do all the heavy lifting for you at HW Advantage, we are on your team, and we work for you, not the lenders and banks! If you are considering the services of a broker, then you understand the benefits of having a professional team of industry professionals with access to over 35 Canadian lenders! Why handcuff yourself to a single bank when you are looking for self-employed mortgage rates? Consider the advantage you will get when looking for mortgage rates in Burlington, with HW Advantage. Read on for more information about using a mortgage broker to find self-employed mortgage rates.

Self-Employed Mortgages:

With nearly 20% of all income earners in Canada being self-employed (at least part-time), we often wonder why it is so difficult for this growing demographic to obtain a mortgage. The first issue is the fact that income is not always easy to prove. Also, many business owners are motivated to expense as much as possible to minimize their taxes payable, which is something many lenders do not recognize. In order to obtain a self-employed mortgage, most lenders require that personal tax Notices of Assessment from the past 2-3 years be included with the mortgage application. Those who can provide this proof of income can generally access the same mortgage products and rates as traditional borrowers, while those who cannot must at least have a good credit history and provide a minimum down payment of 20%.

In addition to your Notices of Assessment, some of the other supporting documentation a lender may require for a self-employed mortgage application include:

  • Financial statements for your business.
  • Proof that your HST and/or GST is paid in full.
  • Contracts showing expected revenue for the coming years.
  • Your personal and business credit scores.
  • Proof that you are a principal owner in the business.
  • A copy of your borrower’s business or GST licence or Article of Incorporation showing you are licensed.
  • Proof that your down payment has not been gifted.


Using a mortgage broker in Burlington, like HW Advantage is ideal:

Because it is difficult to navigate which lenders specialize in self-employed mortgages, or have more favourable terms for the self-employed, this is one case where using a mortgage broker has obvious advantages. Mortgage brokers have access to multiple lenders and have a broad knowledge of the mortgage market. Therefore, a broker can connect you to the lender most suited to your situation.

If you are self-employed, and you are looking for mortgage rates in Burlington, then HW Advantage is the place for you! Don’t waste your time going from insurance company to insurance company looking for the best possible self-employed mortgage rates. A mortgage broker like HW Advantage will do the searching for you and present you with numerous lending options. For more information about self-employed mortgage rates, or about the services we offer at HW Advantage, please feel free to continue browsing through our website or call us at (905) 541-6961

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