A majority of self employed people struggle to or cannot confirm their income the way an employee can. If you are self-employed you may qualify by simply stating your income and providing confirmation that you are self-employed. In order to qualify for a stated income mortgage you must meet the following conditions:
• A satisfactory credit history.
• Up to date income tax.
• Confirmation of self-employment (such as a business licence, company registration, or a registered business name, etc.).
These mortgages are available in some cases with as little as a 10% down payment. Please call Visdom Mortgage Solutions to discuss stated income in more detail.