Self-Employed Borrowers

Homeownership is not out of reach for self-employed borrowers.

While securing a mortgage when you don’t have a traditional 9-to-5 job may seem challenging, it’s entirely possible with the correct advice and guidance.

One of the primary challenges for self-employed borrowers is providing sufficient financial documentation. Lenders want to ensure that borrowers have a stable and continuous income that enables any mortgage to be serviced comfortably.

Due to the increased scrutiny around longevity of income, lenders generally limit the LTV on offer to self-employed mortgage applicants when compared to those in full time employment.

The personal financial information required will be similar to when applying for a traditional mortgage, however there will be an additional layer of financial information that must be provided in respect of the borrower’s business. This will often include financial statements, income tax returns, current management information, forecasts and other documentation that evidences the business’ ability to provide income to the borrower in order to support the mortgage.

In some circumstances a lender may request and rely on a third party certification from a professional accounting firm or tax advisor where a self-employed borrower has numerous income streams or complex forecast revenue.

Explore our other financing options.

For individuals looking to purchase a home, investors seeking opportunities, or self-employed professionals, we diligently seek out optimal financing solutions tailored to match your distinct needs.