Business for Self (Alt. A)
Enables self-employed borrowers who manage their finances responsibly to obtain mortgage insurance without traditional income.
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Help Self-Employed Borrowers Own The Home They’ve Worked Hard For
Many borrowers who are self-employed have good credit and are in control of their finances, but cannot provide traditional means of income verification. This product helps self-employed borrowers find their path to home ownership.
Premium Rate:
LTV Ratio | Premium Rate | Top-Up Premium |
---|---|---|
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% |
Eligible Products
- Progress Advance Program
- Purchase Plus Improvement Program
- Second Mortgage Program
Eligibility
- Available up to 90% Loan-to-Value
- Borrower is a Sole Proprietor, Partnership or Corporation with a proven 2-year history of managing both their credit and finances responsibly
- The borrower is required to declare their annual income and annual business income, which should be reasonable based on their industry, length of operation, and type of business
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Learn more about this program in the Underwriting Policies & Standards (UPS)
View Business for Self Program in UPSPremium Calculator
The Premium Calculator helps you calculate the mortgage insurance premium on any Sagen™ products.
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