Triston Rans - Calgary Mortgage Associate

Self-Employed Mortgages

Mortgages for the self employed are not what they used to be. Today, many mortgage lenders understand that self employed mortgage applicants and mortgage applicants who work off 100% commission have the means to make their mortgage payments even though the income they report to the government suggest otherwise.

To facilitate self employed mortgage applicants and commission based income mortgage applicants, most mortgage lenders allow stated income mortgage applications. Stated (self declared) income mortgages allow mortgage applicants to state incomes higher than what they report to the government. As many self employed mortgage applicants are writing off as much as they can to lower their income on paper, their reported net income might be too low to be approved for a traditional mortgage.

Stated income mortgages allow business owners to report income higher than their net income as long as it is reasonable within industry standards.

If you are the sole proprietor of your company or if your company is incorporated, you may very likely qualify for a stated income mortgage. Even if your company has been around only a short period of time but you have been in your field for several years, you can still qualify for a self employed mortgage. With as little as a 5% down payment you can make the house you want become your new home.

Banks do not always like to deal with ‘non-traditional’ mortgages and are reluctant to give mortgages to self employed people. Mortgage lenders, on the other hand, are businesses. As business-people just like you, mortgage lenders are more willing to work with you to help you get the home you want with less hassle and paperwork. Triston Rans has access to dozens of financial institutions and mortgage lenders who work with business owners and get mortgage rates for self employed people comparable to those who have verified, consistent salaries.

To determine your eligibility and get pre-approved for a stated income/self employed mortgage contact Triston Rans today or apply for a stated income mortgage online.

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