As we are couple of weeks away from a new calendar year, there is one thing that has clearly changed in the business world. In the words of the famous CEO Gary Vaynerchuk, “Entrepreneurship has been put on such a pedestal, and people are going to suffer from it”. He doesn’t necessarily mean from a…
When we speak of mortgages, it’s always about families with a stable income that will comfortably pay it off after a certain time. What is never spoken about are entrepreneurs and their housing plans; as we know, being self-employed means your salary can vary on a monthly basis, but being an employee on a payroll…
Statistics show that nearly 20% of all income earners in Canada are now self-employed (at least part-time). We often question why it is so difficult for this growing demographic to get a mortgage. Some of the issues include the fact that income for the self-employed is usually hard to prove. Many business-for-self owners are…
CMHC will no longer insure self-employed mortgages without income validation. So this is obvious now that self-employed people have better chances to get mortgage using mortgage brokers than regular lenders such as banks. It is extremely hard to navigate which lenders specialize in self-employed mortgages or have more favorable terms for the self-employed. Mortgage brokers…
