Great Mortgage News for Self Employed Business Owners!

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   September 17, 2018

Canada Mortgage and Housing Corporation (CMHC) is making it easier for self-employed

Canadians to qualify for a mortgage – as of October 1st, 2018 – by providing lenders with more guidance and flexibility than ever before.

Self-employed Canadians are key contributors to strong and vibrant communities, and make up about 15% of Canada’s population, says CMHC, adding that this sector often has difficulty qualifying for a mortgage as their incomes can vary or are less predictable.
This is welcome news for Albertans, as a recent CBC article reports people working for themselves accounts for a whopping 86% of the province’s net job growth over the past 1.5 years!
Whether out of a sense of opportunity or necessity (or a little bit of both), these people have chosen to stop seeking a steady paycheque and set out to be their own boss.
Roughly 410,000 Albertans are now self-employed. That’s an increase of 43,000 from just 1.5 years ago. The number of people working as employees over the same time span, however, grew by just 7,000.

…read the full article at http://wehaveamortgageforthat.com/blog/RedDeer

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About the Author

Blake King
Having lived in Red Deer my entire life and having experience in many avenues of real estate I offer enormous value to my clients.