If you are self-employed and having trouble getting approved for a mortgage through one of the big banks or trust companies, you’re not alone.

There are a lot of advantages to being an entrepreneur - more independence, you set your own hours, potentially earn more money, and choose who you get to work with. It’s a different story though, if you want to get a mortgage to buy your dream home.

Over the past several years, traditional lenders have implemented stricter rules and the banks have cracked down on mortgages for those who are self-employed.

Unfortunately, big banks see entrepreneurs as a risky investment, forcing them to be scrutinized differently than those with a more traditional income. With self-employed entrepreneurs who may choose to draw a smaller income for tax purposes, the bank thinks there’s a greater chance that they will default on a mortgage.


As a result, lenders have imposed a higher down payment structure for self-employed individuals versus the non-self-employed individuals who are permitted to have far less of a down payment and get a government-backed mortgage.


At Mortgage Edge - Quinte, we have access to an array of institutional A and alternative lenders who offer great self-employed and stated income programs, Canadian business owners can enjoy the income and credit flexibility that accompanies them.


Whether it be a corporation, sole proprietorship, partnership, or small family business, these lenders understand that self-employed consumers have tax deductions and so income is subject to a reasonability test.


Contact  us today and let’s see how we can help!