Self-Employed Well the first reason is that self-employed individuals can reduce their taxes by writing off their business expenses. The more they write off the less they pay in taxes. While this strategy will help to reduce the tax payable, this strategy will work against them when applying for a mortgage. Most likely the average income will not be large enough due to the sizable write-offs. That’s why the biggest obstacle for our self-employed clients is proving their income. At Residence Financial Inc. we are very familiar with the process of obtaining a mortgage for self-employed individuals. Our lenders now have mortgages available with little to no conditions needed. Some lenders will ask you to see your Notice of Assessment just to prove you do not owe any income taxes while others will not even ask. Today in Canada, there are more options for self-employed clients than ever before. Feel free to call us for a free consultation at 1-877-326-2413 or simply complete a mortgage application form |