SELF EMPLOYED Business: Tips on how to get your mortgage approved

Title: SELF EMPLOYED Business: Tips on how to get your mortgage approved

 Host: Evelyn Lopes

Guest: Kyle Cole, Mortgage Specialist with BMO

In this episode, Evelyn Lopes talks with Kyle Cole, a mortgage specialist with BMO, about how self-employed individuals can get their mortgage approved. They cover a variety of topics related to entrepreneurs, the application process for mortgages, information required by lenders and the various forms of verification along with advice for self-employed individuals who are looking for mortgage financing options.

The episode starts with Kyle Cole defining what a sole proprietor is and how it differs from being an incorporated business. He explains that a sole proprietorship is an unincorporated business that is owned and operated by one person, while an incorporated business is a separate legal entity from the owner and how they affect  mortgage applications.

Kyle then goes on to discuss the information required for the mortgage application process. He explains that self-employed individuals will need to provide more documentation than traditional employees, including business history, income verification, and credit scores. He also provides advice for self-employed individuals, such as keeping detailed financial records and avoiding large purchases before applying for a mortgage.

Finally, Kyle discusses the various options available to self-employed individuals who are looking to get approved for a mortgage. He explains that there are a variety of mortgage products available, including those specifically designed for self-employed individuals. He also discusses the importance of finding the right lender and working with a mortgage specialist who has experience working with self-employed individuals.

Overall, this episode provides valuable information for self-employed individuals who are looking to get approved for a mortgage. Listeners will learn about the application process, the documentation required, and the various options available to them. They will also receive valuable advice from a mortgage specialist with years of experience in the industry.

Contact information:

Kyle Cole | Mortgage Agent with BMO- Bank of Montreal
647-331-8850
[email protected]

Evelyn Lopes | The Evelyn Lopes Realty Team | iPro Realty Brokerage
905-965-5902
[email protected]