Self-employed Canadians can count on getting a commercial mortgage or residential mortgage in Toronto based on the strength of their credit scores. They can also increase their chances of getting a mortgage with bad credit by reducing debt and having a larger down payment.
If you’re self-employed and have good credit, it can be difficult to get mortgage loans if you can’t verify a steady income. Gone are the days of needing a credit score of 680 or higher to get a mortgage, even if you were self-employed.
If you are interested in finding out what kind of mortgage you qualify for as a self-employed individual, contact our mortgage lenders or specialists to help to tackle the situation.
For more information on mortgage for self-employed Canadians, please read: https://www.canadalend.com/blog/faq-can-you-get-mortgage-if-you-are-self-employed/