Business For Self (BFS) Mortgage Solutions

With more and more Canadians joining the ranks of the self-employed, it makes sense to ensure clients in this market have access to mortgage solutions tailored to their unique situations. B2B Bank offers NINE BFS solutions!

At A Glance

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Alternative Mortgage Solutions - up to 65% LTV

Solutions for borrowers with non-traditional income documentation, elevated debt ratios or previous credit impairment.

BFS stated income ≥ 2 years

  • HELOC and Homeowner's Kit ≥ 650 credit score
  • ≥ 540 credit score
  • BFS ≥ 2 years relying on stated income for qualification

BFS stated income < 2 years

  • ≥ 540 credit score
  • BFS < 2 years relying on stated income for qualification

Equity 50

  • ≥ 660 credit score
  • Up to 50% LTV
  • Excluded previous credit impairment

Expanded Mortgage Solutions - up to 80% LTV

Solutions for borrowers who cannot provide income documentation in the traditional manner.

BFS Expanded

Alternative proof of income

  • ≥ 580 credit score
  • Min. 2 years business for self
  • Validate income using 12 months business bank statements

New Professional

Alternative proof of income

  • ≥ 580 credit score
  • New professionals — doctors, dentists, lawyers, accountants
  • Strong earning potential
  • Proof of min. 2 years in business

Conventional Mortgage Solutions - up to 80% LTV

Solutions for well-qualified borrowers with a minimum 20% equity.

Fully verifiable BFS ≥ 2 years up to 80%

  • ≥ 600 credit score
  • Able to confirm income in traditional manner

Fully verifiable BFS ≥ 2 years Homeowner's Kit (HELOC and mortgage) up to 80%

  • ≥ 650 credit score
  • Revolving line of credit (HELOC max. 65% LTV)
  • Up to 80% LTV (HELOC portion up to 65% LTV)

Insured Mortgage Solutions - up to 95% LTV

Insured solutions for borrowers with a down payment of as little as 5%.

CMHC fully verifiable up to 95%

  • ≥ 600 credit score
  • Able to confirm income in traditional manner
  • Allows for 15% gross-up of line 150 from NOA for income qualification

Genworth Business For Self (ALT. A) > 2 years up to 90% LTV

  • ≥ 600 credit score
  • Min. 2 years business for self
  • Proven 2-year history of managing credit and finances

Case Studies

 

Ensuring Success

 

Resources and Support Information

 
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