When it comes to mortgage approval for your mortgage renewal, income verification is often required when you’re shopping for an interest rate.
As rates increase, not everyone qualifies for a mortgage the way they did in the past four years.
Fortunately, there are many programs that can still help you qualify for your mortgage renewal if you are not a salaried employee.
These programs include:
- Self-employed, based on your business income (in addition to your personal income).
- The high net worth alternative.
- Equity mortgages.
- Rental income.
- Seasonal income averaging.
- Hourly income averaging.
To ensure you receive the best rates when getting approved for your mortgage renewal, I am happy to advise you accordingly.
For more details, please book an appointment with Paul by clicking here.