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Approved! Refinance in Barrie, ON using CCB income

We refinanced this owner-occupied property in Barrie for debt consolidation and cashout funds for closing costs and savings.


  • 35-year amortization
  • CCB Income
  • Deal approved at 64.85% LTV
  • 2-year closed
  • Barrie, ON



Our client, a skilled carpenter working full-time hourly wages, and his wife, a customer service clerk with a 20-year tenure, want to refinance their owner-occupied property in Barrie, Ontario, with an appraised value of $1M.

Employment hours were affected by COVID limitations in 2022 and serious health issues, causing financial strain for this hardworking couple. A high-rate mortgage renewal also caused slow repayments and, ultimately, impacted the household budget. Since 2022, they have been falling behind on payments.


They hope to refinance the two-storey detached home to consolidate their first mortgage and $17,000 in debt to get back on track. We can help.


The main applicant found a new job with guaranteed employment hours. We requested income docs upfront to determine the sustainability and continuity of their income.

Leveraging sustainable full-time hourly wages with a reputable employer and the Canada Child Benefit (CCB) income they receive for their child under 14 years of age and a marketable property, we qualified these clients with an extended amortization of 35 years.


Approved by the Home Team and starting the new year debt-free!

Refinancing with us paid out the first mortgage, and all debt generated $19,000 in additional funds for closing costs and savings and will yield tangible monthly savings of $600 for our clients.

They’ll also take advantage of our FREE Home System Warranty offering worth up to $10,000 annually! 

Behind the Deal – CCB Income

MCAN Home Discover Alternative Solutions

Alternative income can be crucial when qualifying clients. We accept CCB income for children 14 years of age or younger and up to 30% of borrower income.

MCAN Home accepts Child Care Benefit (CCB) as follows:

  • For children 14 years old or younger; and
  • Up to 30% of borrower income

Download information on our Alternative Income solutions here.

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