Self-employed person's loan

1. Self-employed person's loan When I started a business, I dreamed of wealth and freedom and became my own boss. Unexpectedly, when you want to buy a house, it is very difficult for the bank to grant loans to self- employed people! Canadian self-employed According to Statistics Canada, the number of self-employed people in Canada has roughly doubled in the past 40 years. From 1.2 million in 1976 to nearly 3 million in 2018. This number will continue to grow in the future. When Canadians start a business, they dream of wealth and freedom, and dream of being their own boss. What these people did not expect was that when they made

2. money and wanted to buy a house, it was even more difficult for the bank to grant loans to self-employed people! Income certificate Ming’s loan The past few years Canadian lending has undergone a very big change. The bank switched from the previous Common Sense Lending to the conservative "paper loan." Banks only recognize tax returns or income from T4. Self-employed people often make reasonable tax transfers or tax cuts due to various tax reasons, resulting in the income on the tax return and T4 being far lower than the real income. This will cause banks to only use lower income for approval when making loans, which directly leads to difficulties in loans and a reduction in loan quotas. Between, The bank will say: "Report more taxes next year, let's talk about it! 』 However, loan brokers have other methods. Advantages of loan brokers The loan specialists of any bank can only sell the products of their own bank. Compared with loan brokers, it loses a lot of flexibility and choices. The owner of a renovation company in Toronto immigrated to Canada for many years, and finally saved enough down payments,

3. planning to buy a house for himself and his family. But when it comes to approving loans, they run into trouble everywhere. The bank either does not have enough quotas or does not approve it at all. The reason is that there are too few tax returns. But the loan broker can use the company's 6-month running account as evidence of income instead of using the figures on the tax bill. Help customers get the amount they need and hand over the house on time! Completed the guest’s "Canadian Dream". The important value of our service Many people think that the only advantage of loan brokers is price comparison. Banks can definitely find banks to make loans. In fact, it is not. There is still much we can do. For qualified guests, we can offer very competitive loan prices and terms. For customers who do not meet the qualifications for approval, we also have more products and options to provide. Ruiguang Mortgage Services serves customers in the Greater Toronto Area. Our financial center is in Markham, Unit 5- 7755 Warden Ave Markham Ontario. Welcome to negotiate phone number: 905-925-1986. Source Link: https://bit.ly/3m0BxdG