Are you self employed?  Concerned about how the new CMHC Mortgage Insurance Rules affect you?

If you have been in business for 3 years AND

You claim / declare all of your income & your income is verifiable by a Third Party; i.e. Revenue Canada via Notice of Assessment & Tax Return, or Audited Financials Statements for your business then you have access to the same mortgage products as salaried borrowers.

Purchases: with as little as 5% down (95%LTV)

Refinances: up to 90% of the value

Other requirements:

-Income taxes must be paid and up to date

-Must provide Notice of Assessment, and financial statements prepared by practicing accountant

-Min credit score 600

For more information please complete our confidential comment form below, or on our Contact Page or email

mortgages@dropmyrate.ca

Tags: Declared Income, Self Employed Mortgage

This entry was posted on Monday, April 26th, 2010 at 3:41 pm and is filed under Self Employed . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.