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How to qualify for a self employed mortgage in Canada?

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#1 Jeremy25


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Posted 12 April 2017 - 05:06 AM

Hi all, I'm Jeremy from Toronto, Canada. I would like to know more about self-employed mortgage in Canada. I know the rules are different from other countries.


I searched for this online. How can I get qualified for a self-employed mortgage? I came to know about low documentation(low doc) mortgage and no income mortgage. Which one has more advantage? If you have taken any of these, you will be able to share your experience.


Few questions:

        1.If it necessary to show enough income in the initial stage?

         2.What are the documentations required in order to get qualified for this mortgage? 


As suggested by my friend, I thought of approaching a self-employed mortgage in Canada. But, before that, it would be better to have a clear idea about this. Each reply I receive will be highly appreciated. Only after that, I can plan my future steps.


Thanks in advance