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How self-employed can easily get a mortgage
According to Industry Canada, about 16 per cent of the workforce was self-employed workers in 2010, about 2.7 million people. Some are likely looking at low mortgage interest rates and thinkning about buying a home.
It can sometimes work against you in a mortgage application to be self-employed. Marcy Berg, a mortgage broker at Mortgages For Women, says the main reason isn't what you do for a living, but the lack of proof of income in the form of tax records.
`It`s not anymore difficult to get a mortgage when you`re self-employed. The basic rules still apply for getting a mortgage,` said Berg. `But if you don`t declare your freelance income, then you may have a problem.`
Read the full article here.
According to Industry Canada, about 16 per cent of the workforce was self-employed workers in 2010, about 2.7 million people. Some are likely looking at low mortgage interest rates and thinkning about buying a home.
It can sometimes work against you in a mortgage application to be self-employed. Marcy Berg, a mortgage broker at Mortgages For Women, says the main reason isn't what you do for a living, but the lack of proof of income in the form of tax records.
`It`s not anymore difficult to get a mortgage when you`re self-employed. The basic rules still apply for getting a mortgage,` said Berg. `But if you don`t declare your freelance income, then you may have a problem.`
Read the full article here.