Initial Consultation
During your initial consultation, we’ll review your current mortgage and financial situation, discuss your refinancing goals, and provide an overview of the options available to you.
Being self-employed offers freedom, flexibility, and financial control, but it can also make securing a mortgage more challenging. Many traditional lenders impose strict requirements, making it difficult for entrepreneurs, freelancers, and small business owners to qualify.
At XLG Mortgage Group, we specialize in self-employed mortgages, helping professionals secure the best financing options, even without conventional income documentation. Whether you’re looking for a TD self-employed mortgage, Meridian self-employed mortgage, or other specialized lenders, we connect you with the right solutions.
One of the biggest hurdles for self-employed mortgage applicants is proving income. Unlike salaried employees with T4 slips, self-employed individuals often have fluctuating earnings or write off business expenses, reducing their declared income for tax purposes.
This can make it harder to qualify under standard mortgage criteria, especially when lenders focus on gross vs. net income. Many borrowers ask:
At XLG Mortgage Group, we work with lenders who take a holistic approach by assessing your business stability, financial records, and creditworthiness instead of relying solely on traditional income verification.
We understand that self-employed mortgage requirements differ from traditional financing. Our team offers flexible mortgage solutions that consider your business revenue, contracts, and assets rather than just tax returns.
Unlike standard lenders, we help you qualify using alternative documentation such as:
We tailor mortgage options based on your business model and financial needs, offering solutions like:
We provide access to lenders offering self-employed mortgages in Alberta, Halifax, and across Canada, ensuring you get the best financing options.
Working with XLG Mortgage Group gives you access to several advantages:
Get approved even if major banks deny your application.
Qualify without T4 slips or salaried employment records.
Flexible mortgage structures that align with your cash flow cycle.
Find the best bank for a self-employed mortgage with favorable terms.
Self-employed mortgage criteria differ from conventional loans. To increase your chances of approval:
A strong credit score improves eligibility.
Provide bank statements, tax returns, and balance sheets.
A 20% down payment often improves mortgage terms.
Lenders prefer applicants with two years of self-employment history.
Many borrowers wonder:
A self-employed mortgage calculator estimates your borrowing capacity based on:
At XLG Mortgage Group, we help you navigate these calculations and determine how much financing you can secure.
Refinancing your mortgage with XLG Mortgage Group is a straightforward process. Here’s how we guide you through each step:
Initial Consultation
During your initial consultation, we’ll review your current mortgage and financial situation, discuss your refinancing goals, and provide an overview of the options available to you.
Application Process
Once we’ve identified the best refinancing option for you, we’ll submit your application to multiple lenders to secure the best rates and terms.
Approval and Documentation
After receiving approval from the lender, we’ll review the new mortgage terms with you and ensure that all necessary documentation is in place. We’ll also explain any associated costs, such as closing fees or penalties for breaking your current mortgage.
Finalizing Your New Mortgage
Once all paperwork is complete, we’ll finalize your new mortgage and arrange for the closing process. You’ll then begin making payments on your new mortgage under the updated terms.
Deciding whether or not to refinance depends on a variety of factors. At XLG Mortgage Group, we work with you to assess your current financial situation and goals before recommending the best course of action. Here are some scenarios where refinancing might make sense:
If current mortgage interest rates are significantly lower than when you first took out your loan, refinancing could save you thousands of dollars over the life of the loan.
If you want to switch from a variable-rate mortgage to a fixed rate (or vice versa), refinancing provides the flexibility to do so.
If your credit score has improved since you obtained your mortgage, you may qualify for better rates and terms through refinancing.
If you need to access your home’s equity for a large purchase or expense, refinancing can give you access to the cash you need.
At XLG Mortgage Group, we understand the unique challenges faced by self-employed borrowers. Our experience, coupled with a vast network of lenders, ensures that we find the best mortgage solutions for your needs. Whether you’re buying your first home, refinancing, or looking to renew your mortgage, our dedicated team is here to guide you every step of the way.
Ready to take the next step toward securing your mortgage? Reach out to XLG Mortgage Group today for a consultation. Our experts are available to answer your questions, discuss your financial goals, and help you find the mortgage product that best suits your needs.
+1 905-206-0090
+ 1 833-932-0012
info@xlgmortgagegroup.com
5250 Solar Drive, Unit # 208,
Mississauga, Ontario, L4W 5M8
207-460 Hespeler Road,
Cambridge, ON, N1R 0E3
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