Self-Employed Mortgages in Canada

In this video I will explain how we help self employed Canadians obtain the best mortgages at the lowest rates.  So, let me tell you about a client named William. William is self-employed electrician and runs his own business. Like many people who are self-employed , William faced a challenge when it came to getting a mortgage with his bank.


Here’s the thing: Williams’s bank only looked at his personal income. And as with many business owners, he showed far less income on paper for tax purposes than his gross business income. William hit a dead-end with his bank since their pre-approval amount was far too low, but that’s when William turned to us at Red Key Mortgage. With access to specialized programs, we were able to ‘state’ his earnings to the lenders which better reflected his true borrowing power.


Whether you run a corporation, like William, or operate as a sole proprietor, we have tailored mortgage solutions to fit your needs. Our approach takes into account the nuances of your business and personal finances to ensure you’re eligible for the right mortgage.


In the end, we helped William secure his dream home by qualifying for over ¼ millions dollar more than his bank offered. If you’re self-employed and navigating the mortgage process, don’t let tax planning stand in the way of homeownership. Mortgages are simple for us, let us make them simple for you.

At Red Key Mortgage, we’re committed to openly discussing the pros and cons of each lending option, so you can make an informed decision about which lender is worthy of your business.

Video Highlights:

Self-Employed Mortgage Challenges
An introduction to the difficulties self-employed individuals, like William, face when trying to secure a mortgage due to how their income is reported for tax purposes.

The Limitations of Traditional Lenders

A look at how traditional banks often only consider personal income, which can prevent self-employed clients from receiving adequate mortgage pre-approvals.

Specialized Mortgage Solutions for Business Owners
An explanation of how Red Key Mortgage offers customized mortgage solutions by “stating” the earnings of self-employed clients to better reflect their actual financial strength.

Tailored Programs for Self-Employed Canadians
How Red Key Mortgage provides mortgage programs designed for both sole proprietors and those running corporations, ensuring more accurate eligibility based on business and personal finances.

Success Story: William’s Dream Home
The story of how Red Key Mortgage helped William qualify for over a quarter-million dollars more than his bank’s offer, enabling him to buy his dream home.

Expert Guidance and Transparency
Red Key Mortgage’s commitment to openly discussing the advantages and disadvantages of each mortgage option, empowering clients to choose the best lender for their needs.

Takeaways

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  • Self-employed individuals often struggle to secure mortgages from traditional banks due to the way income is reported for tax purposes.
  • Specialized mortgage programs can help self-employed clients “state” their income, presenting a more accurate picture to lenders and increasing borrowing power.
  • Tailored mortgage solutions that account for both business and personal finances ensure clients receive fair pre-approvals based on their true earnings.
  • Success stories like William’s show that alternative lenders can offer significantly higher mortgage amounts than traditional banks.
  • Red Key Mortgage is dedicated to transparency and offers clear guidance on mortgage options, helping clients make informed decisions.
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