Written by 11:57 AM General Views: 7

BFS (Business for Self)

Business-for-self is mortgage lender lingo for “self-employed.”

Canadian mortgage default insurers and lenders each have their own specialized BFS programs. These programs often allow self-employed borrowers to qualify for a mortgage without the typical documentation requirements of a salaried individual. This is done to allow flexibility for BFS applicants who may have business deductions or other circumstances that make their income hard to qualify.

Visited 7 times, 1 visit(s) today

Last modified: February 5, 2009

Robert McLister is one of Canada’s best-known mortgage experts. A mortgage columnist for The Globe and Mail, interest rate analyst and editor of MortgageLogic.news, Rob has been covering Canada's mortgage market since 2007.