Self-Employed Mortgage with 10% down payment
Statistics show that self-employed people have higher net worth, but much of self-employed income does not show up on paper. Self-employed workers cut their income down through personal deductions and legitimate expenses which make it hard to qualify by traditional qualifying criteria. There is a special program designed for self-employed people by which you can qualify based on stated income as long as you have been in business for over 2 years.
Clients with good credit rating and have no outstanding personal taxes. They must prove they have been self-employed for a minimum of two years. This can be confirmed via a third-party arms length document. For example, documentation such as a business credit report, business licence, G.S.T. returns or articles of incorporation. In addition, the borrower is required to declare their annual income, which should be reasonable based on the industry, length of operation and type of business.
Qualify today based on CREDIT and STATED income!
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