First-party case evidence
Funded cases from Durham Region
These anonymized files are educational examples, not approval-rate claims. They show the borrower, property and lender-fit issues that actually appeared in files from the cities represented above.
Recently Funded•Ajax
Residential Refinance in Ajax After Job Loss and Credit Challenges
A borrower in Ajax had recovered employment income after a job loss, but the earlier disruption left the borrower with a credit score close to 540 and significant unsecured debt. The borrower had credit cards, lines of credit, and a large HELOC, creating high monthly payments. HopeWell structured an alternative lender refinance that paid out high-interest debts. Although the mortgage interest rate increased by roughly 1 percentage point, total monthly payments decreased by approximately $2,250.
- Solution
- Alternative lender mortgage
- Purpose
- Refinance and debt consolidation
debt consolidationalternative lenderAjax
Read the case study →Recently Funded•Oshawa
Oshawa Full Refinance Recommended Instead of B-Lender HELOC
Oshawa clients approached us for a B-lender HELOC in second position. The primary applicant worked two jobs as a pharmacist, including at a public hospital, and earned decent income. His wife was also working, so household income was strong. They had accumulated credit card debt while finishing their basement as a secondary dwelling unit, and the credit card balances had become too high. Their existing mortgage was with an A lender but at a relatively higher rate. We ran the numbers and compared the B-lender HELOC option against a full refinance. The full refinance was the better option because it lowered the mortgage interest liability, was cheaper than the B-lender HELOC structure, and paid off the credit card debt.
- Solution
- Full refinance
- Purpose
- Debt consolidation and mortgage interest-cost reduction through full refinance
Oshawa Ontariofull refinanceHELOC avoided
Read the case study →Recently Funded•Whitby
Whitby A-Lender Approval with Credit Score Exception After B-Lender HELOC and Credit Challenges
Whitby clients had two mortgages: a first mortgage with a bank and a HELOC in second position from a B lender. They also had some credit challenges and credit card debts, and their credit score was on the margin. We reviewed the file and found that income was good. The main challenge was credit score. We approached an A lender and requested an exception on the credit score. When other factors are strong, some lenders may consider an exception on one or two weaker factors. The lender approved the file.
- Solution
- A-lender refinance approval
- Purpose
- A-lender approval through credit score exception where income and other file strengths supported the request
Whitby OntarioA-lender approvalcredit score exception
Read the case study →Recently Funded•Oshawa
Oshawa Full Refinance Reduced Monthly Payments by About 65%
Oshawa clients approached us for a solution to consolidate their debts. The husband was salaried and worked in IT. The wife was a homemaker. Household income was limited. They had credit card debt and unsecured lines of credit. We ruled out a private mortgage because there was no realistic exit strategy; it would have simply shifted loans from credit cards and unsecured lines of credit into a private mortgage. A second-position HELOC was also considered. After running the numbers, we recommended a full refinance because their existing first mortgage was also at a relatively higher interest rate. The clients consolidated their debts and reduced monthly payments by approximately 65%.
- Solution
- Full refinance
- Purpose
- Full refinance to consolidate credit cards and unsecured lines of credit while avoiding unsuitable private mortgage
Oshawa Ontariofull refinancedebt consolidation
Read the case study →Recently Funded•Oshawa
Oshawa Fully Prepaid Private Second Mortgage for Unsecured Debt Consolidation
Oshawa clients had high unsecured debt at high interest and a low credit score. They approached us for a solution. We recommended a private second mortgage to consolidate their debts. The mortgage was fully prepaid, which gave them breathing room during the term. The exit strategy was to revisit refinance at the end of the term. By then, their credit score should have improved because all debts except the existing first mortgage had been paid off.
- Solution
- Private second mortgage
- Purpose
- Fully prepaid private second mortgage to consolidate unsecured debts and create refinance exit path
Oshawa Ontarioprivate second mortgagefully prepaid private mortgage
Read the case study →Recently Funded•Whitby
Whitby Rush Builder Purchase Closed with Private Mortgage for UAE Expat Borrower
Whitby clients were buying a builder property and approached us barely four days before closing after spending too much time with other brokers and banks. They needed 80% LTV. The borrower was a Canadian citizen working as an expat in the UAE and had strong, verifiable foreign income. However, the Canadian credit profile was weak because of limited Canadian credit history and a few collections. Most A lenders declined because of credit, while B lenders were not comfortable doing 80% LTV given the location, foreign-income structure, and credit concerns. We arranged a rush private mortgage strictly as a one-year bridge and advised the clients to pay off the collections. The plan is to revisit refinance after the credit profile improves and the file becomes better positioned for institutional lending.
- Solution
- Private mortgage
- Purpose
- Urgent builder purchase closing with one-year private mortgage bridge
Whitby Ontariobuilder purchaserush closing
Read the case study →Recently Funded•Oshawa
Oshawa Primary Residence Purchase Approved Using High-Net-Worth Liquid Asset Program
Oshawa clients were looking to purchase their primary residence. The down payment was coming from the sale of their existing property. Their incomes were good, but still not enough to support the required mortgage under standard debt-service ratios. However, they had accumulated significant savings and had a high personal net worth. We approached an A lender with a high-net-worth program. Under this type of program, eligible liquid assets can support additional borrowing capacity over and above the borrower’s normal income-based qualification, subject to lender policy. The clients were approved.
- Solution
- A-lender purchase mortgage
- Purpose
- A-lender purchase approval using high-net-worth program and liquid asset support
Oshawa Ontarioprimary residence purchaseA-lender approval
Read the case study →Recently Funded•Pickering
Pickering Single Mother Qualified for Debt Consolidation Refinance Using Two Jobs, Bonuses, Commissions, Child Tax Benefits and Child Support
A single mother in Pickering wanted to consolidate debt through a full refinance. She worked two full-time jobs and also received bonuses and commissions. We used the average of her two-year T4 income where supported by lender policy. She also received child tax benefits and child support. Child support received can be used as income when properly documented and accepted by the lender; child support paid by a borrower is usually added to liabilities. In this case, because she was receiving support, it strengthened the income side of the file. When all eligible income sources were added together, the income was enough to qualify her for a full refinance.
- Solution
- Full mortgage refinance
- Purpose
- Full refinance for debt consolidation using complete income analysis
Pickering Ontariosingle motherdebt consolidation
Read the case study →Recently Funded•Pickering
Pickering Low-LTV Purchase Approved Through A-Lender Equity Program
Clients sold their existing home with significant equity and wanted to buy a new home in Pickering with only approximately 35% loan-to-value. The main applicant was self-employed and declared very low income, while the spouse was not working. Canada Child Benefit income was added where lender policy allowed, but the standard income ratios were still challenging. Instead of moving the file to a private lender, we placed it with an A lender that had a specialized equity-based program for low-LTV files. The lender allowed more flexibility on ratios because the requested mortgage was very low compared with the property value.
- Solution
- A-lender equity-based mortgage
- Purpose
- Primary residence purchase
Pickering Ontariolow LTV35 percent LTV
Read the case study →