business for self (bfs) program
Designed for self-employed individuals or those with non-traditional income sources who can’t verify their earnings through standard documentation like pay stubs or T4s. These programs allow borrowers to “state” their income without full verification, making them a lifeline for business owners, freelancers, or commission-based workers whose tax returns might not reflect their true cash flow due to write-offs.
business for self (bfs) stated income
Insured mortgage with a minimum 10% down payment, 5% must be from own source. If 35% down payment or more then there’s no insurance premium.
Owner Occupied Purchases Only
Minimum of two (2) years business-for-self tenure. Exceptions may apply
Borrowers with commission income are ineligible.
No tax arrears
All applicants used to qualify must occupy the property
Insurance premiums are up to 4.75% depending on the Loan to Value
“If people like you, they will listen to you. but if they trust you, they will do business with you”
-Zig Ziglar