There are excellent things about having your own company and not having to answer to anyone. You will find numerous incredibly effective business people that will live great lifestyles, since they have excellent tax write-off's that bring their income level down to a minimal tax bracket. The alternative side of this is that these great advantages also work against these same business people when they try to qualify for a mortgage, since the revenue is substantially reduced on paper. These business owners realize that there is advanced planning involved in being in a position to qualify for financing, and that’s when they turn to ResCom Mortgage Solutions, Inc. for mortgages for self-employed in Nanaimo.
With over thirty five years of combined experience in the mortgage industry, we have created an impeccable reputation within the mortgage industry, and with our past and current clients. We actually specialize in mortgages for self-employed in Nanaimo, and throughout the rest of the region. Over the years, our mortgage specialists have created strong and long lasting relationships with many of the top lenders in the country. These alternative lending providers don’t require as much information as traditional banks because they understand the small business owner, and realize that there’s more to see than what’s just written down on paper. They only require openness on your part to disclose a reasonable estimate of your annual income.
Based on Statistics Canada, in 2016, there were approximately 2.9 million individuals self employed in Canada, and that is nearly fourteen percent of the entire population of the country. These statistics reflect individuals who are moving on in preserving a major lifestyle financed by self employment and having the ability to be counted as a result. Put simply, being self employed is a practical means of creating earnings. It simply does not fit in perfectly with the traditional lending requirements. To be able to fit in the traditional lending' box', there's a degree that lenders require that each mortgagee, the person applying for the mortgage, must meet.
Several of the documents that self employed people have to offer to the lender are actually two most recent years of tax returns which do not usually accurately reflect the real take home pay that a self employed person has. Tax deductions related to business usually reflect meals, rented space, charge card interest, etc. The end result would be that the income the self employed entrepreneur shows on their tax return is actually a significantly lower figure compared to what they really earn. As stated before, many of our private lenders and others do not require this because they realize it’s not accurate disclosure.
If you would like some additional information regarding the advantages of our mortgages for self-employed in Nanaimo, ResCom Mortgage Solutions, Inc. would like to invite you to visit our website. At rescommortgage.com, you can leave your contact information, for a quick response. You can also call us at 855.585.2080, and speak with one of our friendly and dedicated mortgage professionals.Mortgages For Self-employed Nanaimo