Self-Employed
Mortgage
Navigating the mortgage process as a self-employed individual can be challenging, but it doesn’t have to be. We understand the needs of self-employed borrowers and offer solutions to help you secure the best mortgage. You’ll get the financing you need without the hassle.
What Are Bank Statement Loans?
Bank statement loans are a flexible mortgage option designed for self-employed individuals or business owners who may not have traditional income documentation like W-2s or tax returns. Instead, these loans rely on an analysis of your personal or business bank statements to verify income and determine eligibility.
Why Choose a Bank Statement Loan?
These loans are specifically tailored for self-employed borrowers whose income might not fit the traditional mold but is still consistent and reliable. With flexible qualification standards, bank statement loans make it possible to achieve homeownership or refinance without the hurdles of conventional loan programs.
Key Benefits of Bank Statement Loans
- Income Verification via Bank Statements: Use 12–24 months of personal or business bank statements instead of traditional income documents.
- No Tax Returns or W-2s Required: Ideal for self-employed individuals or business owners with variable income.
- Flexible Loan Terms: Available for primary residences, second homes, and investment properties, with fixed or adjustable-rate options.
Who Qualifies for a Bank Statement Loan?
Bank statement loans are ideal for:
- Self-employed individuals or business owners with non-traditional income.
- Borrowers with solid credit profiles but inconsistent or hard-to-document earnings.
- Individuals who want to purchase or refinance a primary residence, vacation home, or investment property.
How Do Bank Statement Loans Work?
How Bank Statement Loans Use Bank Deposits as Income Evidence
- Bank Statement Analysis: Lenders review 12–24 months of bank statements to calculate your average monthly income.
- Loan-to-Value Ratio (LTV): Most programs allow up to 90% LTV, meaning you may only need a 10% down payment.
- Debt-to-Income Ratio (DTI):While flexible, lenders often prefer a DTI of 43% or lower.
When Should You Consider a Bank Statement Loan?
Bank statement loans are a great fit if you:
- Are self-employed or own a business and lack traditional income documentation.
- Want to avoid the hassle of providing extensive tax documentation.
- Need a flexible loan solution for purchasing or refinancing a property.
Why Work With Us for Your Bank Statement Loan?
Our team specializes in helping self-employed borrowers secure financing that fits their unique financial profiles. We simplify the process and provide customized loan solutions to help you achieve your goals.
Achieve Your Homeownership Goals Today Bank statement loans offer a tailored solution for self-employed individuals seeking flexible mortgage options. Contact us today to learn more, get pre-approved, and start the process of purchasing or refinancing your dream home.
Let Us Help You Get the Best Mortgage
With experience assisting over 100,000 Canadians, we’re here to help you explore your options, compare rates, and find the mortgage that suits you best.
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(416)-660-9540
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Contacts
- (416)-660-9540
- Brampton, (Ontario)
- info@tmaxmortgages.com