Self Employed Mortgage in Alberta
Looking for a self employed mortgage in Alberta?
Being self employed has its advantages, but when it comes to mortgages, self employed individuals often face several obstacles. Whether it be an immediate requirement for funds to purchase real estate, fund a new business venture, or finance other life situations. Why should your profession determine whether or not you receive the financing you need?
Are you facing:
If so, Freedom Capital is a national mortgage brokerage that can help you acquire the self employed mortgage in Alberta you need.
If you can relate to these scenarios, you've come to the right place! With Freedom Capital, our borrowers receive custom-tailored commercial financing solutions and quick approvals.
Freedom Capital’s Mortgages for self employed in Alberta
Freedom Capital strives to provide every borrower with the financial aid they need. We cater to every client, irrespective of their profession or credit score. With a determined team, professional experts, and knowledgeable network of lenders, we at Freedom Capital ensure we can provide solutions for even the most difficult cases.
To qualify for a self employed mortgage in Alberta, individuals need to meet certain requirements, such as:
- 25% or more of the business should be owned by you
- You use 1099 tax forms
- At least 25% of your income is through self employment
- A credit score of 650 or above
- A low DTI (debt-to-income) ratio
Yes, if you meet the lender’s requirements and qualify for the mortgage, then you can get a self employed mortgage in Alberta with one year’s worth of self employment. However, it may be harder to qualify
Usually, you will face larger down payment requirements for a self employed mortgage, however, it will always range between 15 to 25%.