Article provided by: Dominion Lending Centres NasaKasa Mortgage & Real Estate Broker
People everywhere are choosing to pursue a path of self-employment over the traditional nine to five job route. This type of working lifestyle comes with numerous benefits, but there are some drawbacks. For one, getting loans for a car or a house might look a little different when you are working for yourself. Of course, there are always people out there who can help you. NASAKASA can help people searching for a Mississauga self-employed mortgage find the best option for their needs.
FAQs About Self-Employed Mortgages in Mississauga
Trying to find self-employed mortgages in Mississauga and Brampton can be tricky, and is a little different than getting a traditional mortgage. These frequently asked questions about the process can help you learn more about what exactly you need to do.
What Documentation Will I Need?
Banks tend to see a small business owner or another type of self-employed person as unreliable. This is why having the right documentation is extremely important in securing your mortgage. If you own a business, you will need a business license as well as a statement of your business activities and audited financial statements. Any of these documents should prove that you have been self-employed for at least two years. If you are a business owner that has a partnership, you will still have to prove your partnership income in a way that shows what percentage you made.
How Many Years Should I Be Employed?
Typically, you should be self-employed for at least two years before you try to get a mortgage loan. This is partly due to the fact that most documentation asks you to show two year’s worth of financial information and other business activities. Working for yourself for at least two years can also help you determine if it is something that can be successful long-term.
Is It More Difficult To Get A Mortgage If I’m Self-Employed?
Many people wonder if it is more difficult to get a mortgage if you are self-employed, and the truth is that it can be. Banks will think you aren’t as reliable, so they may be hesitant to give you any kind of loan. If they do, you may end up with higher interest rates than someone who is traditionally employed. However, Dominion Lending Centres NASAKASA knows how banks can hassle small business owners and other self-employed people, and they want to put a stop to it. They have some of the top mortgage professionals that can make sure you don’t get taken advantage of.
How Can NASAKASA Help?
NASAKASA can make you get some of the best self-employed mortgages loans around. Their licensed professionals offer top of the line service and are dedicated to working with self-employed individuals. NASAKASA is a small business as well, so they know the challenges you may be going through. This is why they will do everything in their power to find a great mortgage loan option for you.
Contact NASAKASA for the best mortgage solutions in Ontario for self-employed Canadians: 905-997-7001.Mississauga Self Employed Mortgage
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