Self Employed Mortgages
It is business as usual in the mortgage world although lenders are monitoring the current situation and implementing changes as they move along. For self employed borrowers the lenders will look at the industry of the borrower to get an understanding of how that industry maybe effected by the current economic situation. Remember when qualifying for a self-employed mortgage your last two years tax returns are used to qualify or if they are not strong enough then your last six months bank statements so a lender cannot call an employer for employment status. So, their approval judgement will be based on the income documents along with how the borrower’s industry is currently been affected.
Please reach out with any questions.
Residential and Commercial Mortgage Agent
SAFEBRIDGE Financial Group
Broker License #10524
Direct Line | 416-899-1467
Fax | 1866 385-4049
E-mail | firstname.lastname@example.org