Being self-employed as a corporation for over 13 years, I draw upon my own experience to assist self-employed clients obtain a mortgage. Most banks want a two-year average of your personal tax returns to qualify; however there are many self-employed options including:
- 1) Stated Income- state your income based on your corporate financials. Must be reasonable in relation to your most recent Notice of Assessment. Minimum down payment is 10% with 680+ credit score.
- 2) B Lending- Only require your last 6 month’s business bank statements to state your income. No personal tax returns are required, no minimum credit score, minimum 20% down.