Mortgages for contractors are different from traditional mortgages in that, it is easier to qualify for the latter without having to come up with proof of income or other types of documents needed to show to your potential lenders that you have been in business for several years. Mortgages for contractors are focused upon existing contracts and they function as a line of credit to allow contractors access to funds needed for the timely completion of their projects.
You do not have to worry as a contractor on having to come up with a large chunk to convince your lenders you are worthy of borrowing as you could very much gain access to such a mortgage with pretty much less than 25% of the total amount you may be looking to borrow. This may well go down depending upon which lender you opt to work with together with the nature and kind of project that you may be working on.
Whatever you do or whichever company you decide to get your mortgage applied from, it would be important for you to focus upon getting the best mortgage rates for contractors. This is because of the way things are at the moment which could force you out of business should you fail to make acceptable plans.