This changes everything.
Here are the 2 most important things you need to know when packaging these deals:
Makes sense, yes?
Side gigs are more common as people enhance income to meet market challenges – we get it and we want to make sure that’s reflected as we work with you to qualify more clients for a mortgage!
This client, a 62-year-old widow in Tiny, Ontario, found financial certainty after the loss of her husband, who was the primary income earner. With a private mortgage nearing its term and no active credit, she needed to refinance her home to consolidate debts and secure her financial future. High qualifying GDS and TDS ratios stood at 67.19%, respectively, reflecting limited income sources. As a retiree, income was primarily from OAS and a survivors’ pension, totalling $19,378.68 annually. We used undocumented income from adult children living with their mom and approved $115,000 with a low LTV of 15.97%. Get the full story >>>
At 35, this client in Guelph finds himself needing to refinance his home to manage debts accumulated from a failed business venture and a personal accident. With a bruised credit history and significant liabilities, he seeks to consolidate his financial obligations into a single mortgage. With GDS/TDS ratios at 68.00%, the financial situation was stretched, yet manageable with the right support. Employed full-time as an electrician apprentice, annual income is $46,800, supplemented by contributory income from a roommate and part-time gig as a hockey ref in his community. And, with a Beacon score of 688, this client has the potential to graduate quickly to our Precision Prime product suite. We approved $375,000 with an LTV of 53.57%, reflecting the value of his home as a financial asset. Get the full story >>>
Every Story Begins at Home
