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Martin01 08-30-2017 02:15 AM

Mortgage for self-employed
 
Hi,

I am self-employed and planning to buy a home. I need to take a mortgage for that. And I want to know more about the mortgages for self-employed. My business is seasonal in nature. So, the income is not steady during a year. Will this affect my eligibility to get approved for a mortgage?

I have a good credit score. So, I hope I would get qualified for a mortgage. How long will it take to get approved after producing an application before a broker? What are the documents necessary for the application?

Which is a better one: a fixed rate or variable rate mortgage? As a self-employed person, I think a variable rate mortgage would be better for me as it depends on the current interest rates. I have searched a lot to find a mortgage broker offering the best scheme for a self-employed.

Can you suggest me some brokers here? I came across Northwood mortgage reviews. But, I don't have any previous experience with them. Does anyone know more about their services and the current mortgage rates in Ontario? Please help me find the details soon so that it would help me to make a good decision. Thanks in advance!


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