Self-Employed Mortgage Financing Requirements – Dominion Lending Centres Clearlease
ROME – (April 17, 2011) Clearlease.com Reports Many self-employed applicants put off home ownership based on their financials, or lack thereof.
However, Mortgage Insurers and Lenders within Canada have made homeownership easier than ever with specific programs for today’s business owner.
Here are the first things to consider prior to searching for financing:
* You need 2 years history in the same type of work
* If you have been Self-Employed for more than 2 years, but less than 3 years, you can obtain a mortgage approval with alternate documentation proving your income, such as a Self Declaration of your Income
* If you have been Self-Employed for more than 3 years, you must prove your income to the Lenders
For borrowers Self-Employed greater than 3 years, have the following documents ready prior to applying:
1. Last 2 years T1 Generals
2. Last 2 years Notice of Assessments
3. Audited Financial Statements signed off by an Accountant
4. Business License or Registration
Based on your application, your Lender may waive some of the documents listed above, or request additional forms of confirmation. In some cases, the Lender will make exceptions on alternate documents, if the information provided satisfies the request.
For borrowers Self-Employed less than 3 years, but in the same type of work for more than 2 years, you can use a combination of the following documents to apply:
1. Self-Declared Letter
2. Business Registration
3. GST License
4. Articles of Incorporation, or Partnership Agreement
5. Business License
6. Notice of Assessment
7. Website Address
8. Recent Invoices to the Business
9. Cleared Business Cheque
Many banks today have reduced the amount of documentation needed, and in some cases are satisfied with a Business License, Notice of Assessment, and a Self-Declared Income Letter.
If you have not filed your taxes, you can still obtain financing. A self-insured Lender, or Private Lender will require a down payment of at least 15-20% (or greater), a selection of documents listed above or alternate documentation, without the need for a Notice of Assessment or T1 General. Keep in mind you will pay a higher rate than what is offered at a major bank.
Get started by contacting an industry professional. A Mortgage Broker, or Mortgage Agent will help you find financing suited to your needs.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
ROME – (April 17, 2011) Clearlease.com Reports Many self-employed applicants put off home ownership based on their financials, or lack thereof.
However, Mortgage Insurers and Lenders within Canada have made home ownership easier than ever with specific programs for today’s business owner.
Here are the first things to consider prior to searching for financing:
* You need 2 years history in the same type of work
* If you have been Self-Employed for more than 2 years, but less than 3 years, you can obtain a mortgage approval with alternate documentation proving your income, such as a Self Declaration of your Income
* If you have been Self-Employed for more than 3 years, you must prove your income to the Lenders
For borrowers Self-Employed greater than 3 years, have the following documents ready prior to applying:
1. Last 2 years T1 Generals
2. Last 2 years Notice of Assessments
3. Audited Financial Statements signed off by an Accountant
4. Business License or Registration
Based on your application, your Lender may waive some of the documents listed above, or request additional forms of confirmation. In some cases, the Lender will make exceptions on alternate documents, if the information provided satisfies the request.
For borrowers Self-Employed less than 3 years, but in the same type of work for more than 2 years, you can use a combination of the following documents to apply:
1. Self-Declared Letter
2. Business Registration
3. GST License
4. Articles of Incorporation, or Partnership Agreement
5. Business License
6. Notice of Assessment
7. Website Address
8. Recent Invoices to the Business
9. Cleared Business Cheque
Many banks today have reduced the amount of documentation needed, and in some cases are satisfied with a Business License, Notice of Assessment, and a Self-Declared Income Letter.
If you have not filed your taxes, you can still obtain financing. A self-insured Lender, or Private Lender will require a down payment of at least 15-20% (or greater), a selection of documents listed above or alternate documentation, without the need for a Notice of Assessment or T1 General. Keep in mind you will pay a higher rate than what is offered at a major bank.
Get started by contacting an industry professional. A Mortgage Broker, or Mortgage Agent will help you find financing suited to your needs.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Self-Employed Mortgage Financing Requirements – Dominion Lending Centres Clearlease
ROME – (April 17, 2011) Clearlease.com Reports Many self-employed applicants put off home ownership based on their financials, or lack thereof.
However, Mortgage Insurers and Lenders within Canada have made homeownership easier than ever with specific programs for today’s business owner.
Here are the first things to consider prior to searching for financing:
* You need 2 years history in the same type of work
* If you have been Self-Employed for more than 2 years, but less than 3 years, you can obtain a mortgage approval with alternate documentation proving your income, such as a Self Declaration of your Income
* If you have been Self-Employed for more than 3 years, you must prove your income to the Lenders
For borrowers Self-Employed greater than 3 years, have the following documents ready prior to applying:
1. Last 2 years T1 Generals
2. Last 2 years Notice of Assessments
3. Audited Financial Statements signed off by an Accountant
4. Business License or Registration
Based on your application, your Lender may waive some of the documents listed above, or request additional forms of confirmation. In some cases, the Lender will make exceptions on alternate documents, if the information provided satisfies the request.
For borrowers Self-Employed less than 3 years, but in the same type of work for more than 2 years, you can use a combination of the following documents to apply:
1. Self-Declared Letter
2. Business Registration
3. GST License
4. Articles of Incorporation, or Partnership Agreement
5. Business License
6. Notice of Assessment
7. Website Address
8. Recent Invoices to the Business
9. Cleared Business Cheque
Many banks today have reduced the amount of documentation needed, and in some cases are satisfied with a Business License, Notice of Assessment, and a Self-Declared Income Letter.
If you have not filed your taxes, you can still obtain financing. A self-insured Lender, or Private Lender will require a down payment of at least 15-20% (or greater), a selection of documents listed above or alternate documentation, without the need for a Notice of Assessment or T1 General. Keep in mind you will pay a higher rate than what is offered at a major bank.
Get started by contacting an industry professional. A Mortgage Broker, or Mortgage Agent will help you find financing suited to your needs.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###