Mortgages for the Self Employed in Saskatoon
Saskatoon, Warman, Martensville & Saskatchewan Mortgages
Mortgages for the Self-Employed Made Easy!
We specialize in Mortgages for the Self-Employed in Saskatoon, Warman, Regina and across Saskatchewan
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Ready to Buy Your Dream Home? Let Me Find the Perfect Mortgage for You!
Looking for flexible mortgage solutions and unbeatable rates?
If you’re self-employed, you know just how challenging it can be to secure a traditional mortgage—fluctuating income makes lenders uneasy. The good news? We have options specifically tailored for the self-employed to help you get approved.
If you run a business in Saskatchewan, you face many extra hurdles when applying for a mortgage—especially when it comes to proving consistent, predictable income. Understanding the standard mortgage process is crucial to getting accurate information for your unique situation. Lenders typically look at your net income when evaluating your application, so having the right financial documents on hand can make all the difference.
Ready to find a mortgage that fits your entrepreneurial lifestyle? Let’s discuss your options and get you on the path to homeownership success!
Answers to Your Questions...
How can a self-employed person get a mortgage in Saskatoon?
There are a number of factors that lenders consider when determining mortgage rates, including the borrower's credit score, employment history, and income. Self-employed borrowers often have more volatile incomes than traditional employees, making them a higher risk for default.
Lenders will typically want to see that you've been in the same occupation for at least two years and have operated your business for a minimum of two years. They'll also assess your mortgages based on your self-employed income and tax returns.
Presenting your notice of assessment to enable you to access the same low mortgage rates as traditional borrowers which differ from the higher rates typically offered to self-employed mortgage applicants.
It's important to work with a lender who understands your unique needs and can offer you the best terms possible. Contact The Mortgage Firm for self-employed mortgage consultations.
What are the requirements for getting a mortgage as a self-employed contractor?
If you are self-employed and applying for a mortgage in Saskatoon, Regina and anywhere else in Saskatchewan, you may be required to provide the following:
- Personal and business credit scores
- Financial statements for your business
- Proof indicating full payments of your HST and/or GST
- Proof of principal ownership in the business
- Contracts showing previous and potential/expected revenue for the next couple of years
- Copy of GST license or Article of Incorporation proving that you are licensed or a copy of your business license
- Evidence indicating that your down payment was not a gift
Advantages and disadvantages of getting a self-employed mortgage?
There are many advantages to being self-employed when it comes to securing a mortgage. Here are just a few:
- Competitive rates
- Higher mortgage amount
- Efficient approval process
- Saving money on taxes
There are also a few disadvantages to getting a mortgage when you're self-employed:
- You may not qualify at your bank
- Higher rates than conventional mortgages
My Saskatoon & Saskatchewan Ecstatic Client Testimonials
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Excellent customer service, great product knowledge, easy to talk to-Lisa is a professional who enjoys her work and cares for her clients!
Trevor and Debbie
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Lisa's kindness, professionalism and hard work made our purchase stress free. Thanks for everything and we cannot say how grateful we are as new residents to Saskatoon for all the help you have pro...
David and Mary
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I have the opportunity to work with Lisa on a couple of occasions. She is professional and proficient in her job. I've appreciated her willingness to go above and beyond and explain all options av...
Bonnie C - Saskatoon
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Lisa has a very strong, clear knowledge in her field. I've worked with several others in the past, and Lisa has trumped them all. She has answered all my questions, made me feel very comfortable an...
Fraser Hiebert
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Lisa was amazing and really went the extra mile for us when we got our first mortgage, we could not recommend her more!
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