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Mortgage Financing

Self-employment complicates the mortgage process. Let’s simplify it.

If you’re self-employed, the idea of a  “mortgage application” probably gives you an instant headache. 

Good news—I’m better than Advil. 

Some lenders (such as most banks) don’t want the hassle of self-employed mortgage applications. They prefer low-risk clients with great credit and steady paychecks from stable jobs. 

Being self-employed doesn’t mean you don’t deserve a great mortgage. But it can make the process more complicated.

Here are 3 reasons why being self-employed can complicate the mortgage process: 


Your income is low due to write-offs – if you own a business or work on commission, your income may not be reflected in your taxes. This translates as “higher-risk” for lenders.


Your business is new – if you’ve been in business for only a year, you can try for a mortgage, but it’s trickier. The older your business, the better chance you have.


You have imperfect credit – you may suffer from less-than-stellar credit, adding another element of risk for financing.

I help you employ strategies to boost your credit and improve your chances of getting a top-tier lender. 

Still, self-employment may put Type 'A' traditional bank mortgages out of reach.

Banks aren’t the end of the line for mortgages.

I help you employ strategies (read below for my 4 Credit-Boosting Tips) to boost your credit and improve your chances of getting a top-tier lender. Still, self-employment may put Type ‘A’ traditional bank mortgages out of reach.

There are 3 lender types to work with — A, B, and C — each with distinct mortgage criteria.

For example, if you don’t qualify for an ‘A’ lender (e.g. most banks), you could qualify for a ‘B’ lender.

'A' Lenders

Banks & Credit Unions

Risk Tolerance: 

Down Payment Requirement: 
As low as 6.5%

Debt Ratio:
Yes. Only 44% of income can go to debts.

Interest Rates:

Clients typically:

  • have long-standing jobs
  • are well-paid
  • work under a boss
  • have good credit
  • Are often government employees

If you’re a business owner and can prove you’re low-risk, you can qualify for an A lender.

Ways to prove low-risk include (but aren’t limited to):

  • Paying debts
  • Maxing out credit score
  • Offering a large down payment

'B' Lenders

Monoline Banks (Haventree, Cdn Western) 

Risk Tolerance:

Down Payment Requirement: 
Typically 20%

Debt Ratio: 
Yes. 60% of income can go to debts.

Interest Rates: 
Higher than A Lenders

Clients are often: 

  • self-employed
  • just outside the criteria for A Lenders
  • wanting more mortgage flexibility

'C' Lenders

Private Lenders 

Risk Tolerance: 

Down Payment Requirement: 
Anything between 10%-50%

Debt Ratio: 

Interest Rates: 
High. You only pay interest, with no payment to the principal. 

C Lenders only look at 3 things:

  • Home value
  • Property condition
  • Your payment ability 


These loans are meant to:

  • Be short term (6 months – 2 years)
  • Help rehabilitate credit while financing a home purchase
  • Give you time to qualify for a B lender loan.

What’s A Debt Ratio?

This is the allowable ratio of debt-to-income when applying for a loan. Some lenders only permit a certain percentage of income to be spent on debts.

E.g. banks stick to a strict debt ratio. Only 44% of income can go to debts (including house payments), and not a percent more.

No Financial Fibs: Yes, I Need The Truth

Money’s awkward to talk about. You might be tempted to avoid some topics when discussing the mortgage process. Or maybe you forget some financial details whenever they come up. 

Avoiding talking about money among friends is one thing. But lying to your financing expert isn’t a good idea for 2 big reasons:

1. Any lie (even a small one) can affect a potential loan 

if a lender discovers that you’ve lied about something, they assume you’ve lied about everything.

The loan is automatically rejected, and future loans with that lender are often a no-go.

2. Lenders are smart people.. and no matter what, they'll find out anyway

Lenders have seen every type of fraud there is. No matter how well you think you can hide – there isn’t a lie that they won’t discover eventually.

Knowing the truth about your finances is how I get you a mortgage. I’m not going to judge you. Trust me—there’s nothing I haven’t seen before.

Lenders Aren’t The Bad Guys: Learn What They Actually Want

You might think lenders expect you to miss payments, just so they can take everything you own. But believe it or not, the lender wants you to succeed. 

Why? Because it’s a huge hassle if you don’t. 

With a foreclosure, the lender sells the assets used as collateral.

This means the lender potentially loses 3 things: 


selling assets takes time they don’t want to lose.


selling quickly might mean assets go for less than the balance owed.


the lender makes money from long-term clients. Your failure = their failure.

This is why lenders must be certain you’re able to handle the loan. I help you present the best possible case, so lenders know they can trust you.

Get Real Answers From a Mortgage Broker Who Focuses Intently On Working With Entrepreneurs

What If You Can't Get A Mortgage Right Now?

A mortgage isn’t possible in some situations. For example, if your business is less than a year old or you lack a steady source of income, a mortgage loan might be out of reach.

But it’s not out of reach forever. There are just some steps you have to take before you can get there. 

Let’s say you want a mortgage within a few years. But you’re overwhelmed with high-interest bills that are pushing you deeper and deeper into debt. What’s your next step?

Step 1) You get your bills under control with debt consolidation, which simplifies and reduces payments.

Step 2) Once your bills are easier to manage, you focus on building your credit score. 

Step 3) Now that your bills are managed and your credit’s improving, you start saving for a down payment. 

Even if a mortgage isn’t feasible for you right now, I can guide you toward a future where it’s very possible. 

4 Guaranteed Ways To

Boost Credit

Boosting your credit’s an awesome way to improve your chances of getting a great mortgage. It might seem like a huge job, but it’s not.

These 4 small steps make a big difference:
Get a small credit card

a card with a small limit is easier to manage and helps you build a higher score.

Pay the small bills

you’re overwhelmed with debt, so you tend to let your small bills slide. But staying on top of them’s both doable and stops you from sliding deeper into the debt pit.

Contact the Credit Counselling Society

it’s a non-profit charitable organization that’s helped over 700,000 people. They advise you on debt management and can call the creditors blowing up your phone.

Consolidate debts with your home

if you have a house, you can utilize the equity to consolidate can lessen your debt payments. This means either a Home Equity Loan or a Home Equity Line of Credit.

Other Ways I Can Work With You

Debt Consolidation

Debt consolidation is the grouping together of all debts into 1 simple payment. Types of consolidatable payments include:

Consolidating simplifies your finances and saves you money by trading several high-interest loans for 1 low-interest loan.

For example: let’s say you have a monthly $500 car payment. Pulling it into your house payment can turn $500 into a more manageable $50 spread over a longer period of time, with a lower interest rate.

I find you the most cost-effective ways to consolidate. Leave all the tricky math to me.


A line of credit’s helpful when a lump sum loan isn’t the best solution for you.

Like a credit card, a line of credit has a pre-set limit. You borrow what you need, and you’re only charged interest on what you borrow. 

This is helpful for people with:

I help you with: 

  • Standard lines (personal)
  • Business lines (for inventory)


Refinancing is the revising of an existing loan (such as a mortgage) at the end of a term to save time and money.  

Here are 3 ways to save when refinancing:

I help by: 

  • Advising on refinancing methods
  • Alerting you when refinancing can be beneficial 
  • Finding lenders with the lowest current rates