Are you a self-employed individual looking to buy a home in Canada? We understand that getting a mortgage can be a daunting task, especially if you don’t have a traditional employment history. That’s where our handy calculator comes in. With just a few simple inputs, you can calculate your self-employed mortgage and get an idea of how much you can borrow.
Being self-employed shouldn’t hold you back from achieving your dream of homeownership. Whether you are a freelancer, contractor, or small business owner, our calculator takes into account your unique financial situation and provides you with an estimate of what lenders may be willing to offer you. Don’t let the complexities of self-employment deter you from securing a mortgage in Canada.
Our self-employed mortgage calculator considers factors such as your income, business expenses, and credit history to give you an accurate estimate of your borrowing power. It’s quick, easy, and completely free to use. Simply enter your details and let our calculator do the work for you. You’ll receive an estimate that can help guide you through the mortgage application process.
Discover how much you may be eligible to borrow as a self-employed individual in Canada. Take advantage of our handy self-employed mortgage calculator today!
Calculate your self employed mortgage
If you are self employed in Canada and looking to get a mortgage, it is important to calculate how much you can afford before making any commitments. Our handy calculator can help you determine your monthly mortgage payments based on your income and other financial factors.
To use our calculator, simply enter your monthly income, any additional sources of income, and your monthly expenses. The calculator will then provide you with an estimate of how much you can afford to borrow and what your monthly mortgage payments would be.
Keep in mind that as a self employed individual, lenders may require additional documentation to verify your income and financial stability. This could include your tax returns, financial statements, and other supporting documents.
Factors to consider when calculating your self employed mortgage:
- Your monthly income
- Additional sources of income
- Your monthly expenses
- Your credit score
- The interest rate
- The term of the mortgage
By taking these factors into account, you can better understand your financial situation and make an informed decision about your mortgage options. It is recommended to consult with a mortgage professional who specializes in self employed mortgages to get personalized advice and guidance.
Benefits of using our self employed mortgage calculator:
- Quick and easy to use
- Provides estimates based on your income and expenses
- Allows you to compare different mortgage options
- Helps you plan your budget and financial goals
Remember, getting a mortgage as a self employed individual in Canada may have different requirements and considerations compared to traditional employment. It’s important to do your research, crunch the numbers, and consult with professionals to ensure you make the best decision for your financial future.
Calculate your mortgage affordability
If you are self-employed in Canada and looking to buy a property, it’s important to understand how much you can afford to borrow for a mortgage. By using a mortgage affordability calculator, you can get an estimate of the maximum mortgage you can qualify for.
A self-employed mortgage calculator takes into account factors such as your income, expenses, and debts to determine your affordability. It provides you with an idea of the maximum mortgage amount you may be eligible for.
How does a mortgage affordability calculator work?
A mortgage affordability calculator works by taking into consideration your annual income, monthly expenses, and other financial obligations. It calculates your debt-to-income ratio (DTI), which is a crucial factor in determining your mortgage affordability.
The calculator also factors in other details such as the interest rate, the mortgage term, and any applicable mortgage insurance premiums. By inputting all these variables, the calculator can provide you with an estimate of the maximum mortgage amount you may qualify for as a self-employed individual in Canada.
Why is it important to calculate your mortgage affordability?
Calculating your mortgage affordability is crucial for several reasons:
- It helps you determine a realistic budget: By knowing how much you can afford to borrow, you can set a realistic budget for your property purchase.
- It saves you time and effort: By understanding your mortgage affordability upfront, you can focus your property search on homes within your budget, saving you time and effort.
- It helps you plan your finances: Knowing your mortgage affordability allows you to plan your finances effectively, ensuring you are comfortable with the monthly mortgage payments.
- It gives you negotiating power: When you know your maximum mortgage amount, you can negotiate confidently with lenders and potentially secure better terms.
Overall, calculating your mortgage affordability is a crucial step in the homebuying process, especially if you are self-employed in Canada. By using a mortgage affordability calculator, you can gain a better understanding of your financial position and make informed decisions when it comes to purchasing a property.
Estimate your monthly mortgage payment
When you are self-employed in Canada and looking for a mortgage, it’s important to have a clear understanding of your financial obligations. One key aspect to consider is your monthly mortgage payment.
Calculating your monthly mortgage payment can help you budget and plan for your self-employed expenses. By knowing this figure, you can determine how much income you need to generate in order to comfortably cover your mortgage and other financial obligations.
To estimate your monthly mortgage payment in Canada, you can use our handy calculator tool. Simply input the relevant information such as the loan amount, interest rate, and amortization period, and the calculator will provide you with an estimate of your monthly payments.
Factors to consider
When using a mortgage calculator to estimate your monthly payments, it’s important to consider several factors that can affect the accuracy of the estimate:
- Interest rate: The interest rate is a significant factor that affects your monthly mortgage payment. Be sure to enter the correct interest rate in the calculator to get an accurate estimate.
- Amortization period: The length of time it takes to repay your mortgage, known as the amortization period, also impacts your monthly payment. The longer the amortization period, the lower your monthly payment will be.
- Down payment: The down payment is the initial amount of money you put towards the purchase of your home. A larger down payment can lower your mortgage amount and, as a result, reduce your monthly payment.
- Taxes and insurance: It’s important to factor in additional costs such as property taxes and insurance when estimating your monthly mortgage payment. These expenses can vary depending on your location and the type of property you are purchasing.
Using the calculator
To use our calculator, simply enter the required information such as the loan amount, interest rate, and amortization period. You can also include your down payment amount if applicable. Once the information is entered, click on the calculate button to get the estimated monthly mortgage payment.
Remember that the estimated monthly payment provided by the calculator is just an estimate and may not include all applicable fees and costs. It’s always a good idea to consult with a mortgage professional to get a more accurate understanding of your monthly mortgage payment and financial obligations.
By using our mortgage calculator and understanding your monthly mortgage payment, you can make informed decisions about your self-employed finances in Canada. This will help you plan your budget effectively and ensure that you can comfortably afford your mortgage payments.
Get an idea of your interest rate
If you’re self-employed and considering applying for a mortgage in Canada, it’s important to have an idea of the interest rate you might qualify for. Our handy calculator can help give you an estimate based on your unique financial situation.
How does the calculator work?
The calculator takes into account factors such as your credit score, income, and the size of your down payment to estimate the interest rate you might be offered. It uses industry-standard formulas and data to provide an accurate estimate.
Why is knowing the interest rate important?
Knowing the interest rate you might qualify for can help you determine how much you can afford to borrow and what your monthly mortgage payments might be. It can also help you compare different lenders and mortgage products to find the best option for your needs.
Keep in mind that the interest rate you’re offered may vary based on factors such as your credit history, the current lending market, and the specific policies of different lenders.
|Factors considered by the calculator:
|– Credit score
|– Size of down payment
Please note that the calculator provides an estimate and the actual interest rate you qualify for may be different. To get an accurate rate, it’s recommended to consult with a qualified mortgage broker or lender.
Using our calculator can give you a good starting point to understand what interest rate you might be offered as a self-employed individual in Canada. Armed with this information, you can begin to plan your mortgage and make informed decisions about your financial future.
Consider the length of your mortgage term
When calculating your self-employed mortgage in Canada, one important factor to consider is the length of your mortgage term. The mortgage term refers to the amount of time you will be committed to your mortgage agreement.
Generally, mortgage terms can range from as short as one year to as long as ten years or more. It is essential to choose a mortgage term that aligns with your financial goals, income stability, and future plans.
If you are self-employed and your income fluctuates, a short-term mortgage with a term of one to three years may be a suitable option. With a short mortgage term, you can take advantage of the lower interest rates and adjust your mortgage when your financial situation improves.
However, it’s essential to note that if you choose a short-term mortgage, you may be subject to the risk of interest rate increases at the end of your term. It is crucial to have a plan in place to handle potential rate increases to avoid financial stress.
If you prefer stability and want to ensure predictable mortgage payments, a long-term mortgage may be the right choice. A long-term mortgage typically has a term of five years or more, allowing you to secure a fixed interest rate for an extended period.
Additionally, a long-term mortgage can provide peace of mind and make it easier for you to plan your finances. It is worth considering if you are self-employed and want to minimize any uncertainty regarding your mortgage payments.
It’s important to carefully evaluate your financial situation, income stability, and future plans when choosing the length of your mortgage term. Consulting with a mortgage professional can also provide valuable guidance to find the best mortgage solution for your self-employed status in Canada.
Compare different mortgage options
When you are self-employed in Canada, getting a mortgage can be a bit more challenging than for those who have a regular income. However, there are different mortgage options available to help you buy a home or invest in property.
Here are a few mortgage options that you can consider:
A traditional mortgage is a common type of mortgage that self-employed individuals can apply for. It requires documentation of income, such as tax returns and financial statements, to prove your ability to repay the loan. This option is ideal if you have a stable income and can provide the necessary documents.
Stated income mortgages:
If you have difficulty providing traditional income documentation, you may consider a stated income mortgage. This option allows you to state your income without providing extensive documentation. However, interest rates for stated income mortgages can be higher to compensate for the higher risk to the lender.
There are alternative lenders who specialize in providing mortgages to self-employed individuals. These lenders may have more flexible requirements and consider other factors, such as bank statements and business contracts, when assessing your ability to repay the loan. Keep in mind that interest rates may be higher with alternative lenders.
Credit unions are non-profit organizations that offer mortgages to their members. They may have more flexible lending criteria and consider other factors, such as your membership history and involvement in the community, rather than just your income. Consider contacting a credit union to explore your options.
It’s important to compare different mortgage options before making a decision. Consider factors such as interest rates, terms and conditions, and the overall cost of the loan. Consulting a mortgage broker can help you navigate through the different options and find the best mortgage solution for your self-employed situation.
Understand the impact of down payment
When it comes to obtaining a self-employed mortgage in Canada, understanding the impact of your down payment is crucial. The down payment is the initial amount of money you pay upfront towards the purchase price of your home. It plays a significant role in determining the terms of your mortgage.
Here are a few key points to consider about the impact of down payment:
- A larger down payment can help you qualify for a lower interest rate on your self-employed mortgage. Lenders generally view a larger down payment as a sign of financial stability, reducing the perceived risk.
- A higher down payment can also help you avoid or reduce the need for mortgage loan insurance. In Canada, mortgage loan insurance is typically required for down payments less than 20% of the purchase price. By increasing your down payment, you may be able to save on this additional cost.
- On the other hand, if you have a smaller down payment, you may still be eligible for a self-employed mortgage, but you may have to pay a higher interest rate. Lenders may charge a higher rate to compensate for the increased risk associated with a smaller down payment.
- It’s important to consider your budget and financial goals when deciding on the down payment amount. While a larger down payment can have its advantages, it’s essential to make sure you have enough funds to cover other expenses, such as closing costs, moving costs, and any unforeseen expenses that may arise.
- Keep in mind that the impact of your down payment may vary depending on your specific financial circumstances and the requirements of the lender. It’s always a good idea to consult with a mortgage professional who can provide personalized advice and guidance.
By understanding the impact of your down payment, you can make informed decisions and ensure that you are on the right track to securing a self-employed mortgage in Canada.
Take into account your credit score
When calculating your self-employed mortgage in Canada, it’s important to take your credit score into account. Your credit score is a numerical representation of your creditworthiness and is used by lenders to assess the risk of lending to you.
A higher credit score indicates a lower risk, which can lead to better mortgage terms and interest rates. Conversely, a lower credit score can make it more difficult to secure a mortgage or result in less favorable terms.
Before applying for a mortgage, it’s a good idea to check your credit score and take steps to improve it if necessary. This can include paying bills on time, reducing debt, and correcting any errors on your credit report.
When using a self-employed mortgage calculator, be sure to factor in your credit score. Many calculators will ask for this information to provide a more accurate estimate of your mortgage options.
Keep in mind that the specific credit score requirements may vary between lenders. Some lenders may be more willing to work with self-employed individuals with lower credit scores, while others may have more stringent requirements.
|less than 640
It’s also worth noting that other factors, such as your income, employment history, and down payment, will also be taken into consideration by lenders when determining your mortgage eligibility and terms.
By taking into account your credit score and other relevant factors, you can get a better idea of what to expect when calculating your self-employed mortgage in Canada.
Factor in mortgage insurance
When calculating your self-employed mortgage in Canada using our handy calculator, it’s important to consider the additional cost of mortgage insurance. Mortgage insurance is typically required for borrowers who have a down payment of less than 20% of the home’s purchase price.
Mortgage insurance protects the lender in case the borrower defaults on their loan, and it is typically calculated as a percentage of the mortgage amount. The exact amount of mortgage insurance you will need to pay will depend on factors such as the size of your down payment and your credit score.
To factor in mortgage insurance in your mortgage calculations, you can use the loan-to-value (LTV) ratio. The LTV ratio is the percentage of the home’s appraised value that is mortgaged. For example, if you are purchasing a $300,000 home and have a down payment of $60,000 (20% of the purchase price), your mortgage amount would be $240,000 (80% of the purchase price).
Once you have calculated your mortgage amount, you can then determine the amount of mortgage insurance you will need to pay based on the LTV ratio. Mortgage insurance premiums can range from 0.6% to 4.50% of the mortgage amount, depending on the LTV ratio and the insurer. This premium is usually added to your mortgage and paid over the life of the loan.
It’s important to factor in mortgage insurance when calculating your self-employed mortgage in Canada, as it can significantly increase the overall cost of your loan. By using our handy calculator, you can easily estimate the cost of mortgage insurance and ensure that you make an informed decision when choosing a mortgage.
|Mortgage Insurance Premium
|Up to 65%
|Up to 75%
|Up to 80%
|Up to 85%
|Up to 90%
|Up to 95%
Calculate the total cost of your mortgage
When considering a self-employed mortgage in Canada, it’s important to understand the total cost of the mortgage. This includes not only the principle amount borrowed, but also the interest paid over the life of the loan. By calculating the total cost of your mortgage, you can make an informed decision about how much you can afford to borrow and how long you will need to pay it off.
One way to calculate the total cost of your mortgage is by using an online mortgage calculator. These tools take into account factors such as the interest rate, loan term, and any additional fees or charges associated with the mortgage. With this information, the calculator can provide you with an estimate of the total cost of the mortgage over the specified loan term.
Another way to calculate the total cost of your mortgage is by using a mortgage amortization schedule. This schedule shows you the breakdown of each monthly payment, including the portion that goes towards paying off the principle and the portion that goes towards paying interest. By reviewing the schedule, you can see how much interest you will pay over the life of the loan and how long it will take to pay off the mortgage.
|Total Cost of Mortgage
As you can see from the examples above, the total cost of the mortgage can vary based on factors such as the loan amount, interest rate, and loan term. It’s important to consider these factors and calculate the total cost of the mortgage before making a decision. By doing so, you can ensure that the mortgage is affordable and fits within your financial goals.
Explore self-employed mortgage programs
Are you self-employed in Canada and looking to purchase a home? Don’t worry, there are mortgage programs tailored specifically for individuals like you. These programs take into consideration the unique financial situation of self-employed individuals, allowing them to qualify for a mortgage based on their income and assets.
One tool that can be incredibly helpful in understanding your options is a self-employed mortgage calculator. With this handy calculator, you can enter your financial information and get an estimate of the mortgage amount you may be eligible for. This calculator takes into account your self-employed income, business expenses, and other relevant factors to provide you with an accurate estimate.
In Canada, self-employed individuals often face challenges when it comes to securing a mortgage. Traditional lenders typically rely on proof of steady employment and consistent income, which can be difficult for self-employed individuals to provide. However, self-employed mortgage programs aim to bridge this gap by considering additional factors such as your credit history, assets, and business performance.
When exploring self-employed mortgage programs, it’s important to do your research and understand the requirements and criteria of each program. Some programs may have specific income thresholds, documentation requirements, or business history criteria. By familiarising yourself with these details, you can better navigate the application process and increase your chances of approval.
Additionally, it’s a good idea to work with a mortgage broker who specializes in self-employed mortgages. These professionals have extensive knowledge of the various programs available and can guide you through the process. They can help you gather the necessary documents, negotiate with lenders on your behalf, and ensure that you have the best chance of securing a self-employed mortgage in Canada.
Remember, being self-employed doesn’t have to be a barrier to homeownership. With the right research, preparation, and the help of a knowledgeable mortgage professional, you can find a self-employed mortgage program that suits your needs and achieve your dream of owning a home.
Discover mortgage pre-approval process
Before you start using our mortgage calculator for self-employed individuals in Canada, it is important to understand the mortgage pre-approval process. Pre-approval is an essential step in the homebuying journey as it allows you to determine how much you can afford and demonstrates to sellers that you are a serious and qualified buyer.
During the pre-approval process, you will need to provide various documents to support your income and financial information. As a self-employed individual, this may include tax returns from the past two years, financial statements, and proof of business ownership. Lenders will closely scrutinize these documents to assess your income stability and creditworthiness.
Once you have gathered all the necessary documents, you can start the pre-approval process by reaching out to mortgage lenders. They will review your financial information and credit history to determine the maximum mortgage amount they are willing to lend you. Keep in mind that this amount may be different from what you calculate using our self-employed mortgage calculator.
It’s important to note that pre-approval is not a guarantee of a mortgage loan. It is simply an indication of how much you may be eligible to borrow. Once you have been pre-approved, you can confidently start your home search knowing your budget and price range.
Using our self-employed mortgage calculator in Canada in conjunction with the pre-approval process can help you make informed decisions about your homebuying journey. It’s always recommended to consult with a professional mortgage advisor who can guide you through the process and ensure you find the best mortgage solution for your self-employed income.
Find a reliable mortgage lender
If you are self-employed in Canada and looking for a mortgage, it’s important to find a reliable mortgage lender. The process of getting a mortgage can be more challenging for self-employed individuals due to the nature of their income. However, there are lenders in Canada who specialize in providing mortgages to self-employed individuals.
When searching for a reliable mortgage lender, consider the following factors:
|1. Experience with self-employed individuals
|Look for a lender who has experience working with self-employed individuals. They will have a better understanding of your financial situation and be able to provide you with appropriate mortgage options.
|2. Flexible income requirements
|Self-employed individuals may have fluctuating income, so it’s important to find a lender who has flexible income requirements. They should be willing to consider your overall financial stability rather than just your income in a single year.
|3. Competitive interest rates
|Compare interest rates offered by different lenders to ensure you are getting a competitive rate. Higher interest rates can significantly impact the cost of your mortgage over time.
|4. Transparency and clear communication
|Choose a lender who is transparent about their rates, fees, and mortgage terms. They should be able to clearly explain the mortgage process and answer any questions you may have.
|5. Good reputation
|Do some research to find out about the lender’s reputation. Look for reviews and testimonials from other self-employed individuals who have obtained mortgages from them. A lender with a good reputation is more likely to provide you with a positive experience.
By finding a reliable mortgage lender that understands the unique circumstances of self-employed individuals in Canada, you can increase your chances of successfully obtaining a mortgage that meets your needs.
Consider additional costs of homeownership
When calculating your self-employed mortgage using our handy online calculator, it’s important to remember that there are additional costs associated with homeownership in Canada. These costs can add up quickly and should be factored into your budget before making a decision.
Property Taxes: As a homeowner, you will be responsible for paying property taxes on your property. The amount you pay will depend on the location and assessed value of your home. It’s important to research the property tax rates in the area you are considering buying in to estimate this cost accurately.
Home Insurance: Homeowners are required to have a home insurance policy to protect their investment. The cost of insurance will depend on factors such as the age and condition of the property, as well as the coverage options you choose. It’s a good idea to shop around and compare quotes from different insurance providers to ensure you’re getting the best rate.
Utilities: When you own a home, you will be responsible for paying for utilities such as electricity, water, and heating. These costs can vary depending on the size of your property, the climate in your area, and your personal usage habits. It’s a good idea to research average utility costs in the area you are considering buying in to give you an idea of what to expect.
Maintenance and Repairs: As a homeowner, you will also need to budget for ongoing maintenance and repair costs. This can include things like regular upkeep, repairs to the roof or plumbing, and landscaping. It’s a good idea to set aside a portion of your budget each month for these expenses to avoid any financial surprises down the road.
By considering these additional costs of homeownership when using our self-employed mortgage calculator, you can get a more accurate picture of what you can afford and make a more informed decision. Remember to plan ahead and budget accordingly to ensure a successful homeownership experience.
Learn about tax implications
When you’re self-employed in Canada, understanding the tax implications of your income is crucial. The income that you report on your tax return will be used to determine your eligibility for a mortgage. As such, it’s important to calculate your self-employed mortgage accurately using a reliable calculator.
Self-employed individuals in Canada are responsible for paying both personal and business taxes. Personal taxes are based on your personal income, while business taxes are based on your business profits and losses. It’s important to keep detailed records of your income and expenses to accurately calculate your tax liability.
Personal Income Tax
As a self-employed individual in Canada, you’ll need to report your personal income on your tax return. This includes any income you receive from your self-employment activities, as well as any other sources of income such as investments or rental properties. You’ll need to calculate your total personal income and determine your tax liability based on the applicable tax brackets.
In addition to personal income tax, self-employed individuals in Canada are also responsible for paying business taxes. These taxes are based on your business profits and losses and are calculated separately from your personal income tax. It’s important to keep track of your business income and expenses and report them accurately on your tax return. You may also be eligible for certain deductions or credits that can help reduce your business tax liability.
Using a self-employed mortgage calculator specific to Canada can help you determine how your tax liability impacts your mortgage affordability. By accurately inputting your personal and business income, as well as any deductions or credits you may be eligible for, you can get a better understanding of the mortgage options available to you.
Remember, it’s important to consult with a tax professional or accountant to ensure you’re reporting your income correctly and taking advantage of any available deductions or credits. They can provide guidance on how to navigate the tax implications of being self-employed in Canada and help you make informed financial decisions.
Get professional advice for self-employed mortgages
When you’re self-employed in Canada and you’re looking to get a mortgage, it’s important to seek professional advice. Obtaining a mortgage as a self-employed individual can be more complex than if you were an employee with a steady income.
Working with a mortgage professional who specializes in self-employed mortgages can provide you with the guidance and expertise you need to navigate the process successfully. They can help you understand the specific requirements and documentation that lenders may ask for when evaluating your mortgage application.
Self-employed individuals often face unique challenges when it comes to securing a mortgage. Traditional lenders may be more hesitant to approve your application because of the fluctuation in your income or the lack of conventional employment verification.
However, mortgage professionals who specialize in self-employed mortgages have a deep understanding of the Canadian lending landscape. They can help you explore alternative financing options or connect you with lenders who are more open to working with self-employed borrowers.
Additionally, a mortgage professional can offer valuable advice on how to improve your chances of getting approved for a mortgage. They can guide you on ways to enhance your credit score, demonstrate your income stability, and present your financial documents in the most favorable light.
Overall, seeking professional advice for your self-employed mortgage in Canada can make a significant difference in your ability to secure financing for your dream home. The right mortgage professional can simplify the process, save you time and effort, and increase your chances of getting approved for a mortgage that meets your unique needs.
Don’t navigate the self-employed mortgage process alone. Seek professional advice and set yourself up for success!
How can I calculate my self-employed mortgage payments in Canada?
You can calculate your self-employed mortgage payments in Canada by using our handy calculator. All you need to do is input the necessary information such as your income, expenses, and desired mortgage amount, and the calculator will provide you with an estimate of your monthly payments.
What information do I need to input into the calculator to calculate my self-employed mortgage payments?
In order to calculate your self-employed mortgage payments in Canada, you will need to provide information such as your gross income, business expenses, personal expenses, desired mortgage amount, and the interest rate. The calculator will use this information to estimate your monthly payments.
Is the calculator accurate in calculating self-employed mortgage payments?
Yes, the calculator is designed to provide you with an accurate estimate of your self-employed mortgage payments in Canada. However, please keep in mind that the calculation is based on the information you input, and the actual mortgage payments may vary depending on factors such as the interest rate and mortgage terms.
Can I use the calculator to compare different mortgage options for self-employed individuals?
Yes, the calculator can be used to compare different mortgage options for self-employed individuals in Canada. By inputting the details of each mortgage option, such as the interest rate and mortgage term, you can compare the monthly payments and choose the option that best suits your needs.
Is the calculator only available for self-employed individuals in Canada?
No, the calculator can be used by anyone who wants to calculate their mortgage payments, whether they are self-employed or not. However, it is especially useful for self-employed individuals as it takes into account their unique financial situation.
How can I calculate my self-employed mortgage in Canada?
You can calculate your self-employed mortgage in Canada by using our handy calculator. Simply input your income, expenses, and other relevant information, and the calculator will provide you with an estimate of how much you can borrow and what your monthly mortgage payments will be.
What information do I need to provide to calculate my self-employed mortgage?
To calculate your self-employed mortgage, you will need to provide information such as your annual income, total expenses, the type of mortgage you are interested in, your credit score, and any down payment you plan to make. This information will help the calculator determine how much you can borrow and what your monthly payments will be.
Can I use the calculator to calculate my mortgage if I am self-employed?
Yes, our handy calculator is specifically designed to calculate mortgages for self-employed individuals in Canada. It takes into account the unique financial situation of self-employed individuals and provides an accurate estimate of how much you can borrow and what your monthly payments will be.