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woman searching for private mortgage lenders for self employed

Self-Employed? Find Traditional Or Private Lenders For Your Mortgage

By | Home Equity Loan, Mortgage Solutions, Private Mortgage Lender | No Comments

Interested in learning about what private mortgage lenders offer for the self-employed? This article will answer popular questions around self-employment financing and teach you how to get the loan you’re after.

When talking to BFS  — business-for-self — individuals, most of them are unhappy with the many write-offs they receive, which, in turn, lowers their income. 

The discussion often drifts into comparing the taxation rate with the bank’s mortgage rate, but here is the trick; when looking at the whole picture with the goal of saving money, the tax rate should be compared with the interest rate. This is what makes alternative mortgages substantially cheaper.

Taxation is one thing. Interest is another.

Here are a few tips to help you find a mortgage lender, traditional or private while maintaining your status as self-employed. 

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self-employed mortgage qualifications for man planning to buy a house

A Guide To Self-Employed Mortgage Qualifications

By | Blog, Mortgage Solutions, Private Mortgage Lender | No Comments

Meeting all the qualifications required for getting a self-employed mortgage can be challenging but not impossible. Traditionally the bread and butter of B-lenders, the ever-expanding private sector of individual contractors and freelancers have encouraged A-lenders to accept their business too.

However, if you’re self-employed, there are a few things to keep in mind to secure a possible mortgage offer.

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first home buyers in canada

The 3 Types Of Private Mortgage Insurance In Canada

By | Mortgage Solutions, Private Mortgage Lender | No Comments

Private Mortgage Insurance (PMI) is a form of insurance that protects the lender against loss in case you default on your mortgage payments. If something were to happen and you lost your house because of illness or loss of job, a PMI won’t pay the mortgage on your behalf. Read on to learn more about getting private mortgage insurance in Canada.

Buying a house is never a 100% seamless process, regardless of where you find yourself in the world. It’s no different in Canada either. Homeownership comes with costs that are typically difficult to be paid upfront and in full by the great majority of home buyers.

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closing a deal with a high rental portfolio mortgage lender

High Rental Portfolio Mortgage: Private Lenders vs. Bank Mortgages

By | Mortgage Solutions, Private Mortgage Lender | No Comments

If you are creating a rental portfolio, you should know that, even though technically there’s no limit to how many conventional mortgages you can acquire, getting more than four is pretty much impossible. In this scenario, most buyers resort to private lenders, who offer much more flexibility around portfolio loans.

In this article, we’ll discuss the main differences between private lenders and banks in regards to owning several rental properties.

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calculating the benefits of a mortgage investment corporation

Mortgage Investment Corporations vs. Private Lenders: Risks & Benefits Of Both

By | Mortgage Solutions, Private Mortgage Lender | No Comments

Individual mortgages can be quite a gamble when investing in the Canadian real estate market. They require patience, tons of research and, most of the time, a leap of faith. Traditionally, this bureaucratic hassle has been passed over to specially appointed private lenders. But is there an alternative to this? Yes, there is, and it comes in the form of a Mortgage Investment Corporation (or MICs, for short).

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