Mortgage For Self Employed: Fulfill Your Dream of Owning Your Own Home
0 views
Skip to first unread message
Bary Dawn
Apr 18, 2010, 5:25:02 PM4/18/10
to publish-the...@googlegroups.com
*****************************************************************
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Bary Dawn
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=504448
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=504448
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Mortgage For Self Employed: Fulfill Your Dream of Owning Your Own Home
Author: Bary Dawn
Word Count: 622
Article URL: http://www.isnare.com/?aid=504448&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=504448
Easy Publish Tool: http://www.isnare.com/html.php?aid=504448
*********************** ARTICLE START ***********************
The self-employed always got the shorter end of the stick whenever there were goodies to spread around, specifically loans and financing schemes. Though no fault of their own, they could not access reasonable loans for lack of documentation to prove that they have a steady source of income. Not anymore with the mortgage for self employed.
Own Your Own Home Now
For years you have watched employed friends buying their first homes with employee-friendly mortgages. It sucked because you earned more than them and you were your own boss, working with your own hours in your own terms; when it however came to mortgages and financing schemes, you get stuck because no lender would ever dream of giving you a mortgage on the claim that you earned this much regularly and for years already. A mortgage for self employed was unheard of back then.
Then business boomed in Canada and lawmakers saw that the self employed had much to do contribute to the booming economy and lenders saw an untapped market waiting for a chance to own their homes via financing and other mortgage schemes. If you have been employed for at least three years and have your income tax papers to show it or a business colleague who can vouch for your claims, lenders will gladly consider your application for a mortgage for self employed.
Now after years of envying your employed friends, you can get a mortgage to make improvements on your home, buy that house, or get financing for a car - whether you are single, married, or a single mom. When you approach a lender, be ready with your recent tax assessments. Your papers should show that your net income is much higher than your gross income. If this is so, applying for a mortgage for self employed will be easy. Tax deductions are in order if you have a mortgage, now that's cool.
But this type of mortgage also hinges on your beacon score. If you have a low beacon score lenders have to calculate how they can lend you. The same goes for the employed. If you have a good beacon score, have built equity on your home, and have a higher net income than your gross income, you are a sound candidate for the mortgage. So start shopping for a bank or a lender ready to give the most reasonable rates in town.
Other Requirements
Before applying online for mortgage for self employed, gather you business license, GST filing, and other business related documents. These documents will show proof you've been around for years. Prepare your Notice of Assessment or NOA to prove you are current with government revenue; the NOA will be required to determine your chances for a loan to value ratio of your mortgage.
To determine your loan to value ratio simply add the property's purchase price and subtract the advance payment you are going to pay. Then revert to the original purchase price of the house and divide the loan amount by the value of the purchase price amount. The outcome is the bid you make. If you have come up with 86 percent loan to value ratio, ask the lender for loan to value ratio of the mortgage of 86%.
If you are buying a house, you should be able to show proof that you have paid the down payment. A higher down payment paid assures lenders you are a good investment for their business. You get approved for a mortgage for self employed real fast.
Allegro Mortgages Corp. – Best Broker for All Your Financing Requirements
(416) 987-0008
About The Author: mortgage for self employed (http://www.amortgages.ca/). With the help of refinancing Toronto (http://www.amortgages.ca/index.php/en/best-mortgage-toronto) and refinancing Concord (http://www.amortgages.ca/index.php/en/best-mortgage-concord) lenders.Visit http://AMortgages.com today
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=504448
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com --
You received this message because you are subscribed to the Google Groups "Publish These Articles" group.
To post to this group, send email to publish-the...@googlegroups.com.
To unsubscribe from this group, send email to publish-these-art...@googlegroups.com.
For more options, visit this group at http://groups.google.com/group/publish-these-articles?hl=en.
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Bary Dawn
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=504448
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=504448
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Mortgage For Self Employed: Fulfill Your Dream of Owning Your Own Home
Author: Bary Dawn
Word Count: 622
Article URL: http://www.isnare.com/?aid=504448&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=504448
Easy Publish Tool: http://www.isnare.com/html.php?aid=504448
*********************** ARTICLE START ***********************
The self-employed always got the shorter end of the stick whenever there were goodies to spread around, specifically loans and financing schemes. Though no fault of their own, they could not access reasonable loans for lack of documentation to prove that they have a steady source of income. Not anymore with the mortgage for self employed.
Own Your Own Home Now
For years you have watched employed friends buying their first homes with employee-friendly mortgages. It sucked because you earned more than them and you were your own boss, working with your own hours in your own terms; when it however came to mortgages and financing schemes, you get stuck because no lender would ever dream of giving you a mortgage on the claim that you earned this much regularly and for years already. A mortgage for self employed was unheard of back then.
Then business boomed in Canada and lawmakers saw that the self employed had much to do contribute to the booming economy and lenders saw an untapped market waiting for a chance to own their homes via financing and other mortgage schemes. If you have been employed for at least three years and have your income tax papers to show it or a business colleague who can vouch for your claims, lenders will gladly consider your application for a mortgage for self employed.
Now after years of envying your employed friends, you can get a mortgage to make improvements on your home, buy that house, or get financing for a car - whether you are single, married, or a single mom. When you approach a lender, be ready with your recent tax assessments. Your papers should show that your net income is much higher than your gross income. If this is so, applying for a mortgage for self employed will be easy. Tax deductions are in order if you have a mortgage, now that's cool.
But this type of mortgage also hinges on your beacon score. If you have a low beacon score lenders have to calculate how they can lend you. The same goes for the employed. If you have a good beacon score, have built equity on your home, and have a higher net income than your gross income, you are a sound candidate for the mortgage. So start shopping for a bank or a lender ready to give the most reasonable rates in town.
Other Requirements
Before applying online for mortgage for self employed, gather you business license, GST filing, and other business related documents. These documents will show proof you've been around for years. Prepare your Notice of Assessment or NOA to prove you are current with government revenue; the NOA will be required to determine your chances for a loan to value ratio of your mortgage.
To determine your loan to value ratio simply add the property's purchase price and subtract the advance payment you are going to pay. Then revert to the original purchase price of the house and divide the loan amount by the value of the purchase price amount. The outcome is the bid you make. If you have come up with 86 percent loan to value ratio, ask the lender for loan to value ratio of the mortgage of 86%.
If you are buying a house, you should be able to show proof that you have paid the down payment. A higher down payment paid assures lenders you are a good investment for their business. You get approved for a mortgage for self employed real fast.
Allegro Mortgages Corp. – Best Broker for All Your Financing Requirements
(416) 987-0008
About The Author: mortgage for self employed (http://www.amortgages.ca/). With the help of refinancing Toronto (http://www.amortgages.ca/index.php/en/best-mortgage-toronto) and refinancing Concord (http://www.amortgages.ca/index.php/en/best-mortgage-concord) lenders.Visit http://AMortgages.com today
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=504448
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com --
You received this message because you are subscribed to the Google Groups "Publish These Articles" group.
To post to this group, send email to publish-the...@googlegroups.com.
To unsubscribe from this group, send email to publish-these-art...@googlegroups.com.
For more options, visit this group at http://groups.google.com/group/publish-these-articles?hl=en.
Reply all
Reply to author
Forward
0 new messages