There's no question that it could be more difficult for you to get a mortgage loan if you are a free lance viola player than if you are a government accountant. Traditionally, lenders have been more cautious when evaluating loan applications of buyers who are self-employed than people who work for a regular salary.

However, if you are self-employed, there is no reason for you to shy away from applying for a home mortgage loan, especially if your earnings have been in the same field for at least two years. It is a good idea to meet with one or more loan officers before you begin your search. They will probably want to analyze your tax returns for the past 2 or 3 years, keeping in mind that many self employed people can look impoverished on paper, since you can write off some expenses that salaried individuals can not. Try to get pre-approval from the lender, and ask for a letter stating that you have pre-qualified for a loan which your real estate agent can attach to any offer you submit on a home. This will make you more attractive to the sellers.

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Mike Hornby
ReMax Real Estate Central
206 2411 4th St. NW
Calgary, Alberta, T2M 2Z8
Cell: 403-870-8009
Fax: 403-284-4923
mikehornby@NUMBER1EXPERT.com

Mike has been selling in Calgary, Bearspaw, Springbank, MD of Rocky View, Elbow Valley Estates, Heritage Pointe, MD of Foothills areas for over a decade. He has helped hundreds of clients purchase and sell their homes, through his efforts Mike has recieved many Re/max awards, including induction into the Re/max Hall of Fame and Platinum Club status. Contact Mike today! 403-870-8009