Business for Self (BFS) is a broad category that can be challenging to navigate. In our Lender Spotlight, we highlight four distinct programs:

BFS - Bank Statement and Other BFS Programs

Purpose: Use this filter for lender programs where the borrower can not qualify on their taxable income or any other specialized program as created by the lenders. This might be for example a bank statement where the lender will review the borrowers cash flow. None of these rates displayed will be insured or insurable

BFS - Stated Income Insured

Purpose: Use this filter to search for lenders who participate in some of Sagen’s Alt A or Canada Guaranty’s Low Doc Advantage program. All of the rates displayed from this filter will be either insured or insurable. Take note as some LTV’s that you are used to having as being insurable will require the client to pay the default insurance premium.

BFS - CMHC Enhanced Program

Purpose: Use this filter to search for lenders who are participating in or may review on a case by case basis a file under the CMHC BFS Enhanced program for borrowers who are less than 24 months in business. These will be insured or insurable rates.

Professional Programs:

Purpose: Use this filter for any lenders that have professional programs for Doctors Nurses, Veterinarians and other Frontline personnel. These rates can be insured or uninsurable.