A big part of qualifying for a mortgage is income. When you are self employed, sometimes that income is difficult to quantify. Mortgage broker Kevin Carlson from Regina Saskatchewan explains income qualification for mortgage lending for those that are self employed.
Mortgage lending in Canada has gone through many changes over the last 10 years and probably the most affected is the self employed mortgage products. Tightening rules and guidelines in this area has been making it more difficult for business owners to get approved for the mortgage that they are applying for.
This video explains the ways that income is qualified for self employed business owners that are sole proprietors or have incorporated companies.
#mortgagebroker #realestate #entrepreneur #selfemployed #saskatchewan
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