Expect Further Tightening of Guidelines For The Self-Employed.
Self Employed lending has always created a balancing act for the borrower. While trying to save on income taxes, deductions that decrease taxable income can now stand in the way of a mortgage approval.Our industry expects to see further tightening in this area in the months to come.
It is expected that all three Insurers in Canada, CMHC, Genworth and Canada Guaranty will further restrict the lending capacity of lenders such as credit unions and specialty lenders. This may force more Self-employed individuals to seek out other options.
What can you do if you are Self-Employed?
Mortgage Brokers have always provided borrowers with the widest number of lenders and the lowest rates. Here at Mortgage Intelligence we have relationships with over 50 National and Private sources for mortgages. We can be your best asset when you require a mortgage.
Experience counts as well. For over 14 years our office has been a primary source of approvals for those that are Self-Employed. Why not make the choice and let us help.
This is a good time for you to get some advice if there is a possibility that you will need a mortgage in the foreseeable future. You may be able to take advantage of the current situation before things change again. Contact us by using the form below or Apply online now.
