CMHC and Genworth both recognize the unique challenges that are faced by self-employed Canadians. Genworth and CMHC offer mortgages loan insurance options for borrowers that are self-employed in order to help clients realize their dreams of owning their own home. These mortgage options do not require a traditional third party validation of income.
• The best mortgage rates are available for purchases and refinancing. Your can borrow up to 85% on refinances and 90% on purchases.
• Proof of no taxes owing and great credit is a requirement.
• Proof of business for self has to be given, while gifted down payments are not allowed.