Mortgage: Low-income business owner

A house is possible.

The program for self-employed workers*, presents a particularly effective solution for those who have average to low income but who can offer a 20% down payment.

Advantages for Self-Employed Workers

• Flexibility : This program is designed for entrepreneurs and self-employed workers. It allows them to access mortgage financing options that might otherwise be refused to them in more traditional contexts.
• Bank Statement Evaluation : The requirement of a 12-month bank statement allows a more accurate assessment of the applicant's financial health, which could show fluctuating income often observed among those who are self-employed.

Program Requirements

• Average Credit : Prospective homeowners do not necessarily need to have an excellent credit history, which makes this program attractive to those whose score could be considered mediocre according to usual standards. If your credit is excellent the rate is better.
• 20% Down Payment : An essential condition of this program is the ability to contribute at least 20% down payment. This requirement reduces the lender's risk.

Impact for Low-Income Workers

For self-employed workers with low income, this approach allows them to demonstrate their financial viability without having to meet the strict criteria often imposed by lenders basing their judgement on fixed and predictable incomes. This offers a real opportunity to become a homeowner even with a low or average declared income. It is a strategic solution in light of market realities. Schedule an appointment. We can discuss and you get a pre-approval quickly.

*Terms and conditions apply.