Self-Employed Person
This program is designed for self-employed borrowers who are unable to provide traditional income verification but have a proven 2-year history of managing their credit and finances responsibly. Eligible borrowers typically own a small size business for a minimum of two years, which can be confirmed via a third-party arm’s length document. In addition, the borrower is required to declare their annual income and annual business revenue, which should be reasonable based on the industry, length of operation and type of business.
LTV Ratio Premium Rate Top-Up Rate
| Up to 65% | 1.50% | 3.00% |
| 65.01 – 75% | 2.60% | 6.50% |
| 75.01% – 80% | 3.30% | 7.00% |
| 80.01% – 85% | 3.75% | 7.50% |
| 85.01% – 90% | 5.85% | 9.00% |
| 90.01% – 95% | n/a | n/a |