How to Apply for a Mortgage When You’re Self-Employed

Self-employed individuals can successfully obtain a mortgage by demonstrating financial stability and trustworthiness. Key steps include providing two years of income proof through bank statements, tax Notices of Assessment, and maintaining a good credit score. Essential documents also include HST/GST payment proof, business licenses, and client contracts. It's crucial to manage tax deductions wisely, as excessive claims can lower perceived income. Engaging with a credit union can offer favorable mortgage options and additional banking benefits.