Self-employed mortgage loan
Solutions that will maximize your chances
Are you self-employed and looking to purchase a property, refinance or renew a mortgage? Maximize the chances of being accepted with the help of our experts. At Team Phenix Dominion Landing Centers Phenix, we specialize in applying for self-employed mortgages.
Self employed mortgages are available to business owners and can help you get into the property that you've always wanted.
Find the Lowest Mortgage Rate Book an Appointment Now
Call us today and get the best rate guaranteed. Contacting one of our broker is like meeting with over 20 financial institutions. Our Mortgage Broker will advise you in the steps leading to obtaining mortgage financing at the best rate.
Avoid refusals
Avoid refusals with the self-employed mortgages
A Self-employment status may be an obstacle to applying for mortgage financing. Some lenders are indeed resistant to the idea of granting a mortgage to the self-employed. If this is your case, rest assured: other institutions will be willing to finance your future property! Indeed, there are mortgage products for self-employed workers in traditional and non-traditional institutions.
The mortgage brokers of the Phenix team are here to help you find the best mortgage product and get a competitive interest rate. The way we see it, your status as a self-employed person shouldn’t stop you from getting a mortgage. Together, we will ensure that your file is accepted by:
- Proving that you do not represent a high risk to the institution
- Demonstrating that your income is sufficient (stability, liquidity, etc.)
- Guarantee you the best interest rate.
Why are self-employed people not qualified for a standard mortgage?
The main reason lenders are reluctant to offer mortgages to self-employed people is the assumption that self-employed borrowers are at a much greater risk of defaulting on a mortgage than those who are not. The truth is that most lenders do take into account certain circumstances in their scoring of self-employed applicants, in particular, that overheads have not been as high during this time of uncertainty and so their outgoings have been reduced.
Risk and regulations are the two factors that make banks avoid lending to self-employed borrowers. Banks consider self-employment a greater risk than salaried employment because it is harder to prove income. As a result, some lenders think that self-employed borrowers are less reliable risks than salaried ones.
How do I get a self-employed mortgage?
We will simply take care of everything for you! Just meet with us so that a mortgage broker can analyze your needs and offers you a solution adapted for your situation. You will then be guided for each stage of obtaining your mortgage, even before the pre-authorization request. What’s more, as experienced mortgage brokers, we know exactly what the preferences of traditional and non-traditional lenders are. Thus, we are able to present your file to the financial institution making sure that the odds are in your favor! And once your loan is accepted, we will assist you until the official signature at the notary. Buying a new property has never been easier!
However, if your file is too high for financial institutions, you will be notified by our mortgage brokers. We will then advise you on alternative steps to take to increase your chances of getting a mortgage. With us, you are always well informed of what’s to be done in all the aspects of your file!
How do self-employed mortgages work? Self-employed mortgage require a borrower to prove their business income and how much is reserved for financing. They are also more likely to include a personal guarantee as well as other risk factors, such as the amount of personal balance that's covered outside of the business account.
Why us?
A clear understanding of your issues and needs
Close collaboration based on transparency
Efficiency in processing your file
Mortgage expertise for self-employed workers
Quick and flexible brokers
