Almost 20% of all Canadians currently earning an income in the country are self-employed, yet it remains notoriously difficult for them to obtain a mortgage; why should this be? As a growing demographic, and one that is set to increase, shouldn’t it be easier for them to find a mortgage?

Below, we take a closer look at the reasons behind the problems self-employed people face when seeking a loan to buy a property, and offer some important guidance and support:

Income – how easy is it to prove if you’re self-employed?

For the self-employed, proving their income isn’t always easy, and many owners of businesses record multiple expenses to try and minimize their tax requirements; this is something that the majority of lenders don’t (or refuse) to recognize.

If, as a self-employed person, you’re able to provide personal tax Notices of Assessment going back at least 3 years, and include them with your mortgage application, then generally speaking, you’ll be able to access the same mortgage deals as a traditional borrower. However, should you be unable to include these with your application, then you’ll have to rely on a solid credit history, and be able to stump up a minimum 10% down payment.

What other supporting documents must self-employed people produce?

To obtain a mortgage as a self-employed individual, along with your Notices of Assessment, you may also be required to include the following documentation with your mortgage application:

• Statements of finance for your business
• Evidence that your HST and/or GST has been fully paid
• Contracts showing your predicted future revenue
• Both your personal and business credit scores
• Evidence that you are the principal owner of the business
• A copy of your borrowers’ business or GST license or Article of Incorporation proving that you’re licensed
• Evidence that your down payment was not a gift to you

Mortgage default insurance rates for self-employed mortgages:

If, as a self-employed person, you can provide evidence of your income through your personal tax Notices of Assessment, then your mortgage default insurance policy will be the same as if you were applying for a traditional mortgage. That is to say that if you’re only making a down payment of between 5 and 19.99%, you’ll be required to pay a premium, but you don’t need to pay it once you’ve put down at least 20%. Paid off over the duration of your loan, the premium is then added to your mortgage.

How a mortgage broker can help if you’re self-employed:

Knowing which lenders are offering the best rates for your circumstances – especially when you’re self-employed – can be tricky, tiresome and downright tedious at times, and that’s why working with a mortgage broker is such a good idea. Able to make sense of the mortgage market and translate it for you in layman’s terms, they also have access to many deals that you may not be offered if searching for a loan independently, and hiring one is always a sound investment.

For more detailed advice and guidance on securing a mortgage as a self-employed person, contact a mortgage agent, specialist or broker.

Great investors competently control their emotions and committedly stick to their planned strategy. These predetermined strategies define the stock types to buy, time to enter a position, and even when to exit even if the price movement is in your favor. 

Beginners can read the weekly magazine, ‘The Public Investor’ to learn about the long-term investment strategies influenced by book author Prof. Dr. Otte. There are multiple strategies, which can intimidate beginners but here are some best ones to consider.

Timings of cyclical & non-cyclical investments

Cyclical stocks are strongly correlated to the economy. Therefore, when the economy rises, the cyclical stock price increases and vice versa. Non-cyclical stocks follow a stable growth pattern and are a safe investment option in a tough economic environment.

Pros

• During a positive economic situation, investors can earn good profit investing in cyclical stocks. 
• During economic unrest sell the cyclical stocks and buy non-cyclical investments.
• You can read the buying and selling signals with ease as the strategy is concentrated on economic conditions. 

Cons

• Timing the stock market carries potential risk even if the strategy is focused on the economy and correlation with cyclical & non-cyclical stocks.
• Economic analysis is a challenging task.
• Cyclical stocks pay less or no dividend, so income investors will not find this a good option. 

Combining growth & dividend

Growth stocks generate more value in a short time, whereas dividend stock displays slow and steady growth. To find high growth stocks check the annual return rates. For high dividend stocks check dividend payers and the percentage they pay. 

Pros 

• Stocks paying high dividends are safe investments. 
• Dividends are income.
• Dividend stocks generate consistent growth. For example, Utility and consumer staple industry is always in demand, so they never hesitate during economic unrest. 

Cons

• Diversification is hard.
• Balancing your portfolio consistently is essential.
• Growth is consistent but steady, so you cannot anticipate short-term big gains. 

Remember, the strategies have increased risk levels. A move in opposite direction can turn into a costly error. Therefore, understand the market and investing process in detail. 

If you have been keen on the business news, you probably have noticed the positive trends in the cryptocurrency market. This industry has been the best option for anyone interested in reasonable returns on their investments. There was a time when people used to avoid online trading due to limited options. Who could risk his investments in a single asset in a complex industry? Do you know what that means? If the product’s value decreases you will not have a way out to save your investments. Technology is here to simplify everything. Today, the trading market is booming with lucrative opportunities. If you are looking for a way to make extra money while relaxing at home, you only need your trading device and internet to start trading cryptocurrency. What is the first thing to do? 

If you want to start a new career as a trader, you will need crypto services from reputable brokerage companies. The next thing is having your investments ready to begin your journey. Are you among the individuals who fear trading online because of huge investments? That depends on the choice of your broker. Do you want to start cryptocurrency with a small investment? Go with options like Global CTB trading broker. This firm does not require lots of your money to access their services. Moreover, the broker will charge you zero commissions on your transactions. Here are some of the features you will meet with this platform.  

Global CTB Features 

• Available Cryptocurrency 

Apart from Bitcoin, you can find other tradeable products in the financial industry. You can trade about 5,000 currencies. Each of them is unique in its offering. To enjoy trading, find an asset that will fit your skill level and trading background. With many cryptocurrency products, you can expand your market familiarity with ease. Most of the digital assets you ignore have lots of potentials to earn you money. That is the expert’s secrete. They explore the market by interacting with as many assets as possible. 

Global CTB has incorporated many asset options on its platform. You can find the latest currencies that perform well in the market. If you like trading the popular products, the broker has them in their asset index. With this trading company, you can trade NEO, Dash, Monero, Bitcoin Cash, Ripple, Ethereum, Bitcoin, and Litecoin. The best thing is that the broker deals with legit assets. You can pick any tradeable product and have a smooth crypto journey. 

• Registration Process

You will have to sign-up with a brokerage platform to get the cryptocurrency services. You probably want to start dealing with the available products as you finish the registration process. If that is the case, a lengthy registration process can turn you off. Some brokers might take weeks to approve your sign-up request. Do you have to bear with that while you can get better options? Keep in mind that the trading industry is an ever-changing one. You can miss lots of opportunities by not trading in a single day. 

Global CTB keeps everything straightforward when it comes to cryptocurrency trading. You will not have to pass through many steps to register with this broker. Everything is clear for newbies and veteran traders. To create your trading account with this broker, you will share your details such as name, phone number, birth date, email address, password, and location. Within a few minutes of creating your crypto account, the broker will accept your request. 

• Trading Cost

As mentioned earlier, Global CTB uses every possible means to stay away from the crowd. If you like trading in an environment with fewer cryptocurrency fees, this broker will charge you no commissions. Make sure to check the fees charged by any broker before investing in cryptocurrency. To ensure better profits with fewer transaction fees, you can choose Global CTB as your reliable broker. 

Final Thought

Crypto brokers influence the success of any online trader. To interact with anything in the financial market, you will require brokerage services. You can pick a Global CTB broker to handle your cryptocurrency activities.

The top 10 loans money lender Singapore, happen to be properly licensed and well appointed. They have been in the money business for years now. And, the schemes are just the one that goes well with the economy of Singapore. Here are the top ones widely working in Singapore. 

1. Credit 21

Sometimes you might need some amount of money at short notice of time. So finding the right loan that too at a reasonable rate of interest is a tough one. Thanks to Credit 21 and you no longer need to worry about getting a loan. As a top 10 loans money lender Singapore, Credit 21 personalizes their scheme according to the benefit of the customer or borrower. 

1. Lending Bee

Irrespective of the monetary needs, Lending Bee is always there for every borrower in Singapore. They provide unique packages for all income groups, as top 10 loans money lender Singapore. Also with lower loan criteria they help you with loans that are easy to qualify.

1. Credit Master PTE Ltd

Credit Master PTE Ltd has designed loan packages that fully fit the unique needs in our society to keep true to their mission. They provide easy access for loans to the customers by applying an online form and the required documents.

1. Katon Credit

Katong Credit is one of the most famous in the top 10 loans money Singapore that are designed to help you access quick cash and get you back on track. They are known for providing fast money loans to both household owners and small businesses. 

1. 1AP Capital

It is a professional money lending credit company in Singapore which specialises in Personal loans, Business Loans, Education Loans, Medical Loans etc. Their main vision is to provide competitive credit services to the public. 

1. Horison Credit

Horison Credit was founded in 2008, as a top 10 loans money Singapore. With the competitive challenge in the money lending business, when it comes to lending loans, the team here believes in Quality Commitment and has always been successful for bringing benefits to the customers.

1. U Credit

U Credit offers one of the most affordable interest rates in Singapore. Their team of professionals will walk you through the best rate based on your income and financial situation.

It is best known for providing flexible repayment of your loans.

1. Credit Matter

Credit Matters is a fully licensed moneylender in Singapore. Their main aim is to provide money to the customers at the time of their need. When it comes to privacy, they keep everything confidential regarding your details.

1. Credit Thirty 3 PTE LTD

It is one of the best licensed moneylenders in Singapore. Their loan process is minlaw approved. If you take a loan from here, you are in safe hands. They are proud in adhering strictly with moneylenders Act and Rules. 

1. SingBusinessLoan

If you need financial help from paying your groceries to medical costs to paying education fees, 60 minutes is all you need to get an approval of a loan from SingBusiness. 

Apart from all these options, every other small loan company can be trusted if accredited with a license from the Government of Singapore.Here, the ones in the top 10 loans money lender Singapore.