Prime Finance

Self Employed Mortgage

Solution Overview

Self Employed Mortgage

It is common for self-employed individuals to face troublesome circumstances when applying for mortgages from traditional lenders. These strict lending rules are not intended to accommodate self-employed individuals. At Prime Finance, we work with small business owners to match them with the right mortgage lenders. Schedule an appointment at our office today! We offer comprehensive and effective mortgage solutions for self-employed people to get access to funds at any point in time.

What is a self-employed mortgage?

Self-employed mortgages are designed for those who receive their income from business or self-employment rather than an employer that pays a salary. This is because self-employed persons usually have a fluctuating income, while regular employees usually receive a regular income.

A self-employed mortgage is a non-traditional mortgage and can be accessed by people who run full-time or part-time businesses comprising partnerships, incorporations, and sole proprietorships. Self-employed individuals who are incorporated must own the corporation and receive a salary or dividend from it to qualify as self-employed.

Benefits of self-employed mortgage

The benefits of a self-employed mortgage include:

Access to financing

Self-employed individuals often face challenges when it comes to securing financing for a mortgage, as they may not have the traditional proof of income that lenders require. A self-employed mortgage provides a way for these borrowers to access the financing they need to purchase a home.

More flexible income verification

With a self-employed mortgage, borrowers may be able to use alternative income verification methods such as bank statements, business financial statements, and other financial records, which can be especially helpful for those with irregular income or who are self-employed.

Higher borrowing limits

Self-employed mortgages may allow borrowers to access higher borrowing limits than traditional mortgages, which can be helpful for those looking to purchase a more expensive property.

Opportunity to build equity

Owning a home through a self-employed mortgage can provide an opportunity to build equity over time, which can be a valuable asset for long-term financial stability.

Contact Our Agent To Get A Quote

If you are self-employed and looking for a mortgage solution, contact our team today to find the perfect one for your financial needs.