Mortgages for Self-Employed

Mortgages for self-employed

True North Mortgage can offer lending solutions for self-employed borrowers without traditional third party validation of income. Typically, this requires a minimum of 35% down, however, it can be done for as little as 10% down through Genworth’s Alt. A program.

Features of the Alt. A Program

• Available for purchases and refinances
• Can finance up to 90% on purchases
• Best mortgage rates
• Insurance premiums are slightly higher than standard premiums

Examples of Some Requirements

• Great credit
• Minimum of two years business-for-self tenure
• Income stated must be reasonable
• Minimum of 5% of the down payment must come from own resources
• Proof no income taxes are owing
• Additional requirements can be discussed with one of our agents

When putting 35% or more down lenders will be more flexible with the source of income, length of time you have been self-employed, credit score, etc. These files are reviewed on a case by case.

When putting 35% or more down lenders will be more flexible with the source of income, length of time you have been self-employed, credit score, etc. These files are reviewed on a case by case.