Countless truck drivers are discovering value in a stated income mortgage – the mortgage for self-employed borrowers!
Being on the road for long periods at a time isn’t for the faint of heart. Truck drivers and long haul drivers often give up many parts of their life to provide a better life at home.
You shouldn’t have to give up your opportunities for landing a great mortgage as well.
Being a self-employed truck driver means you get to take advantage of many tax deductions – with a stated income mortgage, you can still enjoy your deductions while maximizing your purchasing power.
Your expenses add up quickly as a self-employed truck driver, we get it! You often write off your:
In the end of the day, these are expenses which helped you run your business. When it comes to tax-time, you’ll likely do your best to make the most out of your deductions, why wouldn’t you?
This is where a stated income mortgage SHINES.
A stated income mortgage is an alternative way of income verification. Rather than assessing T4’s the way we would for someone who is an employee, we take a look at your income through a different lens.
As a self-employed truck driver, your mortgage doesn’t have to be at the whim of how your income ‘shows’ after deductions.
With the help of a stated income mortgage, we can assess your self-employed income with a main focus on your business financial statements.
This means that there’s potential to raise your purchasing power as a truck driver by reflecting your income in a way which supports your ‘true’ earnings.
To learn more about how a stated income mortgage works, visit our ‘stated income’ page!