Self-employed Mortgage

At BlueShore Financial, we can make your personal mortgage happen even though you may not have the 9-to-5 paycheque. We take into consideration all your sources of income, and understand that what shows on your T4 isn’t necessarily indicative of your true earnings. We offer a mortgage solution that is flexible enough to meet your needs, like pay-down opportunities when business is good, and lowered payments when business is slow.

And as a partner, we will ensure the process is as smooth and painless as possible, with minimal requirements for documentation and seamless processing.

How we help you get your mortgage 

• We provide up to 80% of the purchase price (95% if insured)
• We individually evaluate each business owner's income to reflect your true earning power
• We factor in personal credit history as well that of your business
• We review a variety of other factors that demonstrate the soundness of your business such as customer base and contracts in place
• Documentation required is kept to a minimum: typically all you need is a minimum of two years’ financial statements and your personal Notices of Assessment (last two years)
• Amortization can be up to 25 years and even longer (conditions apply)
• We provide flexibility in open or closed terms, fixed or variable rates, and a range of payment schedules

Ways we can help you manage your mortgage

• As your business grows, you can increase your payments once each year
• If business slows, perhaps due to a downturn, you can decrease your payments back to the original payment
• Pre-pay up to 15% of your original mortgage on the anniversary date to capitalize on improved profitability or a large commission
• At the end of the term of your mortgage, we will re-evaluate your profile to ensure you get the best rate for the next term

How to protect your investment

• Mortgage insurance or life insurance can help your family retain the home if you die before the mortgage is paid off***
• Disability coverage can ensure your mortgage payment is made if you are unable to work due to illness or injury
• Critical illness insurance can be used to pay off your mortgage should you be diagnosed with a life-threatening illness or suffer a stroke or heart attack