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Current Mortgage Rates

Business For Self Mortgage

If you own your own business, it's not unusual to get the lowest mortgage rates as an employed individual. The qualifications are basically the same except if you can't prove your income.

You have to ask yourself if you want to qualify as an employee. As a self employed business owner you have the ability to deduct expenses from your business revenue claim what's left as income. You then pay taxes on that income which is what you use to qualify for a mortgage.

Find out how you can qualify for the lowest mortgage rate here or calculate your mortgage payment

Frequently Asked Questions

Lenders usually ask for 2 years proof of income from a self employed borrower by way of tax returns, Notice of Assessments, bank statements, business license to verify the borrowers income.

A business owner needs as little as 5% down to buy a house if the income provided satisfied the GDS and TDS guidelines. You will still be able to buy a home if you don't satisfy those guidelines. The interest rate will be higher.

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