Being self-employed doesn't take you out of the running. It just means lenders look at your income differently.
What lenders usually look for
- Two years of personal tax returns and Notices of Assessment
- Proof your business has been operating for a while
- A solid credit history
- Your down payment source
- Business documents such as financial statements or articles of incorporation
The write-off challenge
Smart tax planning can lower your reported income, which lowers what traditional lenders will approve. Some lenders and programs look at your income in a broader way.
More options than the bank
Between big banks, credit unions, monoline and alternative lenders, there are options built for business owners.
Self-employed in Ottawa or anywhere in Ontario? Let's look at your numbers together before you apply.