Self-Employed

This program is aimed specifically at people who are self-employed.

Characteristics

• For purchasing and refinancing.
• In regards to all mortgage insurance products for the purchase of a property from 1 to 4 units, self-employed individuals that qualify using their declared income benefit from the same conditions as those with fixed salaries.

Self-employed individuals that have been self-employed for more than 2 years, but less than 3 years, and do not qualify with their income can be financed using a special program with CMHC (The Canadian Mortgage and Housing Corporation). (90% loan-to-value for purchases and 80% loan-to-value for refinances). Under this program, the property must be an owner-occupied, 1 or 2 unit property.