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Get Approved: Self-employed mortgages and loans


With new mortgage rules it is getting harder to get a mortgage if you are self-employed, have bad credit or live in a rural area. A bank may turn you down, require a larger down payment or charge higher interest rates, but a mortgage broker can help you get the best mortgage for your particular situation. There are ways to get the help you need.


Stated Income

Stated income allows you to state your income on a mortgage application. To make this work in your favour, include your income tax records (Notice of Assessment) to show that you have a steady income. Although tax benefits for self-employed people often lower the total amount of income shown on income tax, when you work with a mortgage broker, they have a wide access to funding that can get you the money you need, based on stated income. While you may pay more interest, it doesn’t mean you will get turned down.


Poor Credit

Having bad credit history is one of the hardest situations to be in when you approach the bank for credit. If you can explain what happened, this will help. If you have a mortgage, you can still get the money you need based on the equity in your home. Poor credit may incur higher interest rates, but there is more of a risk attached. Taking a debt-consolidation loan can help you improve your credit and help you get better interest rates in the future. Please click here to learn more about repairing your credit.


Work with a Mortgage Broker

If you work with a mortgage broker, you have access to a larger network of lenders who will take on different levels of risk. A mortgage broker can help you get the best mortgage for your particular situation.
Even if you have the best credit rating, mortgages are so complex now, and the rules are changing all the time. A mortgage broker will be able to find you financing that fits your needs. We are here to help you with:


  1. Home equity loans
  2. Debt consolidation loans
  3. Paying off credit cards
  4. Home renovations
  5. Small or medium business loans
  6. Mortgages, 2nd mortgages
  7. Self-employed mortgages
  8. Personal emergency loans



Get Great Advice

The world of mortgages and loans is complicated and with all that fine print, it pays to get good advice. With the team at Resourceful Capital Financial Corporation, you get the help you need when you need it most! Contact us today and see how we can help you get the money you need, even if you are self-employed and have poor credit.


Purchasing your home or need a home equity loan? Call 1-888-882-0786!

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STOP! Before you apply for a mortgage through your bank, make sure you are getting the best rate! Compare the best mortgage rates in Canada right now. It will take only a minute, but you will be surprised just how much you can save! We at Resourceful Capital Financial Corporation source our rates from all financial institutions, not just the one's that deal with us. To make sure you make a sound and prudent financial decision and get the best possible mortgage.
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Resourceful Capital Financial Corporation's refinancing calculator will help you decide whether to refinance your existing mortgage at a lower interest rate.