MORTGAGES FOR THE SELF-EMPLOYED

Experts in dealing with the restrictions around being Self-Employed, Canadalend.com can help with a Home Purchase, Second Mortgage, Refinance, or Commercial loan no matter your income or credit.

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Terms & Conditions

I / We hereby certify that the information given in the mortgage application form is true and correct and I / We understand that it is being used to determine my/our credit responsibilities. CanadaLend Inc. is authorized to obtain any information they may require for these purposes from other sources (including, for example, credit bureau) and each such source is hereby authorized to provide them with such information.

I / We also understand that the information given in the mortgage application form as well as other information obtained in relation to my credit history may be disclosed to potential mortgage lenders, financial intermediary and mortgage in relation to insurers, organizations providing technological or other support services required this application and any other parties with whom I / We propose to have a financial relationship.

SEE THE GREAT THINGS OUR CLIENTS SAY ABOUT US:

ARE YOU SELF-EMPLOYED OR HAVE NO REPORTABLE INCOME?

If you're having trouble getting approved for a mortgage or commercial loan though one of the big banks or trust companies, you are not alone.

Over the last number of years, big banks and traditional lenders have implemented several very strict lending rules to crack down on mortgages for those who are self-employed entrepreneurs with no reportable income.

These tighter rules can affect your business quite negatively – but this is where Canadalend and alternative lenders can get you the mortgage solution that is right for you and your business. 

CANADALEND IS NOT AFFECTED BY STRICT MORTGAGE RULES

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Canada’s tighter lending rules only impact those who turn to banks. Non-traditional, alternative lenders are not bound by the same mortgage rules. That’s a fact that’s becoming more evident to an increasingly larger percentage of the population.

Canadians are now turning to mortgage brokers like Canadalend who work with these alternative lenders for no-income mortgages in the Greater Toronto Area. Upwards of 15% of all mortgages originate with non-traditional lenders - a share of the market that has grown significantly since the 2008-2009 recession.

Mortgage brokers who deal with private and alternative lenders fill an important void left by the highly regulated banks by giving potential borrowers the chance to secure a self-employed mortgage or no-income mortgage.

GETTING A MORTGAGE FROM CANADALEND.COM

If you’re an entrepreneur and are being prevented from getting on the property ladder by the big banks, the independent, licensed mortgage agents at Canadalend.com can help. 

Our agents have access to many institutions and private lenders - many of whom specialize in lending to those who are self-employed, single income earners, or simply do not qualify against the bank’s stricter terms.

The alternative lenders that we work with understand that those who are self-employed look for ways to minimize their taxable income. If your income doesn’t meet the unreasonable requirements set forth by the big banks, we can find other lenders that are willing to step in and help you secure a no-income mortgage. 

The Canadalend Advantage

streamlined
mortgage process

personalized solutions
that get approved

experts that work
for you

Proof of income can be difficult to verify for those who are self-employed. The stricter lending rules have led the big banks to want to see as much documentation as possible. Canadalend streamlines the mortgage process and can get you approved for a home equity loan or line of credit usually within 24 hours.

We also understand that there is more to getting a mortgage than just finding one with the lowest interest rates - although that’s certainly important - since a lower interest rate will help you save tens of thousands of dollars over the life of the mortgage.

The licensed mortgage professionals at Canadalend.com want to make sure you understand every aspect of the mortgage process, every step of the way. This includes working out the best amortization period, choosing a fixed or variable rate, and deciding on the best repayment plan for you. It also means that we go over the fine print, making sure you understand the terms and conditions together with any additional fees or penalties.

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