Monday, March 1, 2010
Does Self Employed Mortgages in Canada Exsist?
Yes, they do! Just not the way they used to be. Self employed can still get mortgage financing from Canadian banks based on qualifications. What has changed is the rules regarding them. Even thought there has been no official changes to the program, we have been seeing fewer clients get approval. CMHC and the lenders have been very care full in approving self employed clients( as they should be). This is an important factor as many brokers are promoting these programs that do not fit all lenders. Bottom line, make sure you are dealing with a full time professional and you get the correct information.