Self-Employed Mortgage in Barrie: Low Income on Paper Doesn’t Mean No
This short video tells the story of a self-employed family who thought moving was off the table because of what their tax return showed.
Outgrowing the house
The Taylor family ran a contracting business from home and had outgrown their house. Like a lot of small business owners, they showed very little income on paper, so they assumed moving wasn’t an option.
Why the tax return isn’t the whole story
Last year’s tax return often undersells how a business is really doing. That’s a look-at-the-whole-picture problem, not a dead end. When we looked at the full picture of the business and the family’s situation, the path forward looked very different.
Where they ended up
They ended up in Springwater with an office, an outbuilding for the business and a basement the kids claimed right away.
Details changed to protect my clients’ privacy. Every situation is different.
If you’re self-employed in Barrie or Simcoe County and you’ve been told your income is too low on paper, bring me the whole picture. Bank said no? Let’s find another path.
Related
Related: Self-employed mortgages in Barrie, after the bank said no
Let’s find another path
Bank said no? Let’s find another path. Run your own numbers first with my free Mortgage Toolbox (calculators and a pre-qualification you can do from your phone), then call or text me at 705-881-2780 when you’re ready. No pressure.
General education, not financial advice. Every situation is different and all financing is subject to lender approval.
Lora Fenn · Mortgage Agent Level 1 (#M25003153) · DLC Yellow Brick Mortgages · Brokerage Licence #13854
