Business Owners

More lending options are available for business owners than banks traditional income rules. You can live outside the box!

If you are business for self, as a sole proprietor or incorporated or commissioned income you know how hard it is to get a loan with traditional bank practices. Writing off your allowable amounts on your income tax return often resulted in less claimed income and decreased your borrowing ability.

Mortgage brokers now have more options to offer business owners to allow them to refinance or purchase that were previously seen as outside of the banks lending ratios.

Commissioned Sales People, can now secure loans as early as 6 months after starting in a commissioned role with a gross income statement to prove income and a letter of employment. 

Business for self-used to require 2 years of tax returns and can now secure a mortgage in as little as 6 months. Traditional lending ratios are expanded as are income declarations.

There are even options for individuals that receive gratuities to qualify for larger loans declaring those amounts. Three months bank statements showing amounts as proof.

Obtaining financing for self-employed borrowers is time-consuming and complex as each lender offers different guidelines. Using a mortgage broker that can help you package your income so that it is accepted with the right lender can save you months of frustration and get you the loan you need. I would be happy to help you navigate the lending options available and get you the loan that best suits your needs.