Low-Doc Mortgages - 3 year term starting at 5.85%

Many lenders in the past have made it difficult for self-employed individuals to obtain mortgage financing. The mortgage market has changed so much in the last 5 years that the mortgage lenders in Canada have realized that self-employed individuals are a major demographic in our society. Our network of lenders now lend in many situations where previously they would not.

The biggest hurdle for our self-employed clients is proving their income. Being self-employed gives people the freedom to take advantage of certain tax breaks and other benefits. Unfortunately, this can be difficult when it comes to showing enough income to qualify for mortgage financing.

Our agents are very familiar with the process of obtaining a mortgage for a self-employed client. We have collaborated with many major lending institutions to develop mortgages that are made with a self-employed person in mind. We are proud to say that we have assisted in making changes to the self-employed mortgage market in Canada.

Our lenders now have mortgages available with little to no criteria needed other than basic information for the transaction. When it comes to refinancing a mortgage, the lenders look at equity and credit. With purchases they are also interested in the credit worthiness of the client and not so strict on the income. There are more alternatives for these clients then ever before in Canada.

Low-Doc Mortgages

They are called "low-doc" mortgages for the amount of documentation they require. Many home buyers do not receive a steady paycheck. They own businesses, earn commissions, live off investments or get paid in cash. With the low-doc mortgage, the documentation required for proof of income is dramatically reduced. But, there is an added cost to these mortgages. They do come at a higher interest rate. Low-doc mortgages are also designed to help recent immigrants with money in foreign countries or for borrowers who cannot or choose not to reveal information about their incomes.

Here at Alberta Equity, we have access to the best low-doc mortgages available. Many of our low-doc mortgages are only a half of a percent higher then our best rate. And many of these can be customized to meet your requirements.

Three year fixed rates as low as 5.85% with a low documentation mortgage.

Contact our office or apply online to take advantage of these and other products and services now available to the Canadian self-employed consumer.