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

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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.