Mortgage Agency

It’s not always easy for a self-employed person to obtain a mortgage. Banks sometimes have requirements that don't match your reality, you may not have been self-employed for long enough, or perhaps you don’t declare enough income, you’re locked into a car loan, or the expenses claimed on your return make your income too low.

If the income declared on line 150 of your tax return misrepresents your true income, there is a self-reported income program for self-employed workers or small business owners who meet certain criteria, including:

• Some of the company’s clients are individuals
• It is possible to be paid in cash
• The company is making a profit
• It is a service company
• The company has existed for at least 2 years
• You have a very good credit history
• You have a 10% down payment
• You have paid all of the taxes owed
• You have self-declared income corresponding to your industry
• …

Service professions and trades are most frequently eligible for this program, for example in construction, residential services, beauty services, health or various services to individuals.

Our experts at J. Gérard Fortin et Associés are there to help you get your mortgage. Call us at 514-729-6001 for a free no-obligation consultation.

Life is sometimes full of surprises and unexpected events can put you in a precarious situation or even a very difficult one. A 60-day notice of exercise may be sent to you by your bank if it decides to begin the process to seize your property. If that happens, you should take steps immediately to remedy the situation. The experts at J. Gérard Fortin et Associés will be able to analyze your situation and suggest alternative lenders, known as “B” lenders, in order to prevent you from losing your home and give you an opportunity to re-establish your credit and become a customer of an “A” lender once again.

Don’t hesitate to call us at 514-729-6001 to discuss your situation in complete confidentiality and allow us to offer you alternative solutions that will help you get through this difficult time.

Are you over 55 with a fully paid-off home? Do you want to take advantage of its value without selling it? Enter the reverse mortgage. This is a mortgage that you will not have to pay off until you have moved or sold the house, or after the death of the last spouse.

A big advantage of a reverse mortgage is that you retain ownership of your home. However, you must continue to pay maintenance costs, property taxes and insurance. You pay no tax on the amounts received, you pay interest each year either in whole or in part, and your heirs are protected because the debt will never exceed the value of your home.

To learn more and discuss it with an expert at J. Gérard Fortin et Associés, call us at 514-729-6001.