Self-Employed

Qualifying for a mortgage when you are self-employed can seem a little daunting. Don’t worry, we’re here to help.

The Canadian home insurance companies, CMHC and Genworth, recognize the challenges faced by self-employed individuals when wanting to purchase a home. Therefore, both CMHC and Genworth offer loan insurance options for self-employed borrowers with out the need for traditional third party validation of income.

Features

  • Available for purchases and refinancing
  • Can finance up to 90% on purchases and 80% on refinances
  • Best mortgage rates

Requirements

  • Great credit
  • Proof of business for self
  • Gifted down payments are not allowed
  • Proof of no taxes owing on income

CMHC and Genworth Premiums

The CMHC and Genworth insurance rates will be different if you are mortgaging a house as a self-employed individual or family.

Loan-to-ValuePremium on Total Loan
Up to and including 75%1.00%
Up to and including 80%1.64%
Up to and including 85%2.90%
Up to and including 90%4.75%
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