Recently Funded•Toronto
Toronto IT Contractor Approved with Insured Stated-Income A-Lender Mortgage
An IT professional in Toronto was buying his primary residence. He earned decent income, but he worked through a corporation as a subcontractor, so lenders treated the file as self-employed. Because he wrote off a significant portion of income, the average of two years of T1 income was not sufficient for standard debt-service ratios. His bank declined the mortgage, and other brokers told him to arrange at least 20% down payment to qualify with a B lender. We recommended an insured stated-income mortgage from an A-side lender. The file was approved without requiring the client to increase the down payment to 20%.
- Solution
- Insured stated-income A-lender mortgage
- Purpose
- Primary residence purchase
Toronto OntarioIT contractorself-employed mortgage
Read the case study →Recently Funded•Caledon
Caledon First-Time Buyers Approved with Insured Stated-Income Mortgage
A self-employed husband and wife were purchasing their first home in Caledon with approximately 10% down payment. Because the down payment was below 20%, the mortgage had to be insured. The clients were placed in an insured stated-income program designed for eligible self-employed borrowers with more than two years of business history. The file required more than simply stating an income number. The income had to make sense based on the type of business, how the clients earned revenue, how they gained customers, their major expenses, recurring expenses, and cost of goods sold. The file was approved through an insured stated-income structure.
- Solution
- Insured stated-income mortgage
- Purpose
- First-time home purchase
Caledon Ontariofirst-time home buyerself-employed couple
Read the case study →Recently Funded•Aurora
Aurora Self-Employed Clients Moved from Private Mortgage to A Lender
Aurora clients had been given very poor advice. Both husband and wife were self-employed and declared lower personal income. A friend had told them they could only qualify for a private mortgage and would never qualify with an institutional lender. Believing that advice, they stayed with a private lender for almost two and a half years, paying very high interest. When they finally approached us, we thoroughly reviewed their financial documents and identified that they could qualify on the A side. We used the average of their T1 Generals and 60% of corporate NIAT less dividends under lender policy. When the clients learned they qualified with an A bank, the relief was overwhelming because they had believed for years that private lending was their only option.
- Solution
- A-lender refinance
- Purpose
- Private mortgage exit and A-lender refinance using self-employed income analysis
Aurora Ontarioprivate mortgage exitA-lender refinance
Read the case study →Recently Funded•Hamilton
Hamilton Prepaid Private Second Mortgage for U.S. University Tuition
Clients in Hamilton needed urgent cash-out to pay their child’s tuition after admission to a prestigious American university. Their existing first mortgage was fixed at a very low rate, and the penalty to break it was high, so a complete refinance was not feasible. They also did not qualify for a B-lender second mortgage or HELOC at that time because the husband was temporarily laid off. We arranged a fully prepaid private second mortgage. The tuition was paid, the low-rate first mortgage stayed in place, and the plan was to revisit a complete refinance at renewal if the husband returned to work and the file qualified.
- Solution
- Fully prepaid private second mortgage
- Purpose
- Cash-out for child’s U.S. university tuition
Hamilton Ontarioprivate second mortgageprepaid private mortgage
Read the case study →Recently Funded•Markham
Markham Private Mortgage for Legal Liability with Collateral Charge on Rental Property
Markham clients, both self-employed, were dealing with serious legal issues and had a massive legal liability that needed to be paid immediately. If they did not pay it, they could have faced further legal trouble and a lien against their home. Their credit was low, and the verifiable income on their T1s and T2s was not enough to qualify on the A side. Their credit was also too low for the B side. We arranged a private mortgage on their primary residence and added a collateral charge on their rental property for additional comfort to the lender. The planned exit was to sell a property back home and use the proceeds to pay off the private lender.
- Solution
- Private mortgage with collateral charge
- Purpose
- Urgent legal liability payout and lien prevention
Markham Ontarioprivate mortgagelegal liability
Read the case study →Recently Funded•Mississauga
Mississauga Refinance Using High-Net-Worth Liquid Assets Program
A self-employed client in Mississauga wanted to refinance an existing property. The client had excellent credit, but low declared personal income on T1s. Corporate NIAT was reviewed, but it was still not enough to qualify under standard A-lender income guidelines. The client had significant liquid assets in a holding company. HopeWell identified an A-side lender with a high-net-worth program where eligible liquid assets above the lender’s threshold could support additional borrowing capacity. The file was structured as an A-lender refinance rather than being moved to a B lender or private lender.
- Solution
- A-lender high-net-worth refinance
- Purpose
- Refinance
Mississaugaself-employed mortgagehigh-net-worth mortgage
Read the case study →Recently Funded•Toronto
Toronto B-Lender Second-Position HELOC Used for Daughter’s Tuition
Toronto clients approached us to access equity in their home because they needed money to finance their daughter’s tuition. Both clients were salaried. We reviewed the options and recommended a HELOC in second position from the B side. A full refinance was not recommended because the penalty to break the existing mortgage was high and their first mortgage was at a very low rate. A private mortgage would have been too costly for this purpose. The B-lender second-position HELOC gave them access to the funds while preserving the existing first mortgage.
- Solution
- B-lender second-position HELOC
- Purpose
- B-lender second-position HELOC for tuition funding
Toronto OntarioB-lender HELOCsecond-position HELOC
Read the case study →Recently Funded•Belleville
Belleville Family Title Transfer Approved Despite Active Consumer Proposal
A mother in the Belleville area wanted to transfer a rural residential property to her son and daughter-in-law. The mother had an existing mortgage on the property, but it was very small at approximately 10% of the property value. The son and wife had both been living in the property for over 15 years and were working. The major challenge was that the son had an active consumer proposal. A-lender financing was not available, and many B lenders would only consider the file if the consumer proposal was paid before funding or through the mortgage proceeds. The rural location, well water, and septic system added another layer of lender concern. We found a B lender that accepted the structure and approved enough funds to pay out the mother’s mortgage and the son’s consumer proposal.
- Solution
- B-lender mortgage
- Purpose
- Family title transfer, existing mortgage payout, and consumer proposal payout
Belleville Ontariotitle transferfamily transfer
Read the case study →Recently Funded•Markham
Markham Self-Employed Trucker Approved with B-Lender Stated-Income Exception
A self-employed truck driver in Markham had incorporated only about one year earlier. Many lenders require at least two years of self-employment history, so the file was not suitable for an A-lender approval. However, before incorporating, the client had worked as a truck driver on payroll. We approached a B lender and requested an exception to the two-year self-employment rule. The rationale was that the client had not entered a new industry; he had moved from payroll trucking employment into incorporated trucking work. We supported the file with previous employer T4s and 12 months of business bank statements, and the lender reviewed the income under a stated-income approach.
- Solution
- B-lender stated-income mortgage
- Purpose
- Residential mortgage financing
Markham Ontarioself-employed truckertruck driver mortgage
Read the case study →Recently Funded•Mississauga
Mississauga B-Lender Second-Position HELOC for Realtor Business Investment
Clients in Mississauga wanted to access equity from their home so the husband could invest in his business. The husband was a realtor, but his income was not stable. The wife was a school teacher with decent salaried income. A standard bank HELOC was difficult because the husband’s income was variable, and a private mortgage was not the most suitable first recommendation. After reviewing the full file, we recommended a second-position HELOC from a B lender. The product gave the clients flexible equity access, lower relative cost than private financing, open repayment, and the ability to reuse the credit if needed.
- Solution
- B-lender second-position HELOC
- Purpose
- Equity take-out for realtor business investment
Mississauga OntarioB-lender HELOCsecond-position HELOC
Read the case study →Recently Funded•Cambridge
Cambridge Single Mother Given Breathing Room with a Prepaid Private Mortgage
A single mother in Cambridge had temporarily lost employment during the COVID period. She had been working part-time at a restaurant while attending school and was close to completing a nursing program. Because she did not have sufficient current income, she was unable to keep up with regular mortgage payments, but her situation had a credible recovery path because she was expected to complete nursing education and seek employment within several months. We arranged a one-year prepaid private mortgage to give her breathing room to finish school, stabilize her situation, and pursue employment.
- Solution
- Prepaid private mortgage
- Purpose
- Temporary payment relief and financial stabilization
Cambridge Ontariosingle mothertemporary job loss
Read the case study →Recently Funded•Waterloo
Waterloo Low-Rise Apartment Private Mortgage Closed Within Five Days
A client purchasing a low-rise apartment property in Waterloo had income and credit challenges and had already tried through multiple brokers to arrange conventional financing. The client approached us only five days before closing and needed 80% loan-to-value financing. Many lenders were not interested in that combination because the property type, loan-to-value, borrower profile, and timeline all increased the difficulty. We tapped into our private lender network, found a lender willing to consider the file, ordered a rush appraisal, and closed the transaction within the deadline.
- Solution
- Private mortgage
- Purpose
- Purchase closing
Waterloo Ontariolow-rise apartmentapartment building mortgage
Read the case study →Recently Funded•Caledon
Caledon Prepaid Private Second Mortgage After Truck Driver Income Loss
Clients in Caledon were affected when the husband, a truck driver, had a road accident while driving and lost income. The wife was working as a retail associate, but the household still fell behind. The clients missed mortgage payments, accumulated credit card debt, faced legal expenses, and their credit scores were badly affected. Conventional refinancing was not realistic at that stage. We arranged a one-year fully prepaid private second mortgage to cover current arrears, prepaid mortgage payments for the year, credit card debts, and expected legal-expense needs. The planned exit was to revisit a complete refinance the following year if the husband returned to work and the credit profile improved.
- Solution
- Prepaid private second mortgage
- Purpose
- Arrears cure, debt consolidation, legal-expense liquidity, and temporary payment relief
Caledon Ontarioprivate second mortgageprepaid private mortgage
Read the case study →Recently Funded•Mississauga
Mississauga Banquet Hall Approved for A-Side Business Loan After Bank Decline
The owner of a banquet hall in Mississauga approached us for a business loan to renovate the building. The client had already been declined by their bank and had spoken with multiple brokers. Their regular broker suggested using a private mortgage route. We reviewed the file differently: this was not simply a residential mortgage problem, but a business-loan file where the bank needed to understand the business’s ability to service the debt. We helped the client prepare a business plan, reviewed cash flow with the accountant, gathered projections and supporting documents, and presented the file to a bank. The client was approved on the A side.
- Solution
- A-side bank business loan
- Purpose
- Business renovation financing
Mississauga Ontariobusiness loanbanquet hall
Read the case study →Recently Funded•Oakville
Oakville Retired CEO Approved for HELOC Under Net-Worth Exception
A retired CEO in Oakville owned a luxury home free and clear and had recently received a major lump-sum retirement payout from a large company. The client wanted a HELOC to access equity for a new business. The challenge was that the client had substantial assets but no current employment income. We approached a bank with a net-worth program, where lending can be supported by liquid assets if the client meets certain minimum thresholds. Although the program still required ongoing income, the bank considered an exception because the client’s multi-million-dollar retirement payout created strong liquid net worth. The HELOC was approved.
- Solution
- Bank HELOC under net-worth program
- Purpose
- HELOC for business startup capital
Oakville Ontarioretired CEOhigh net worth
Read the case study →Recently Funded•Orangeville
Orangeville Emergency Second Mortgage Closed in Three Business Days
Clients in Orangeville needed emergency access to approximately $200,000 of home equity for the medical treatment of a father back home. Traditional lending was not a practical option because of income qualification issues and the urgent timeline. We arranged a private second mortgage, ordered a rush appraisal, and coordinated the file quickly enough to close within three business days.
- Solution
- Private second mortgage
- Purpose
- Emergency medical-treatment funding for family member
Orangeville Ontarioprivate second mortgageemergency equity take-out
Read the case study →Recently Funded•Guelph
Guelph First-Time Buyer Approved While on Probation with Gifted Down Payment
A first-time home buyer in Guelph had recently graduated from a leading Canadian business school and started a job with one of the Big Four consulting firms. She was a single applicant and wanted to buy her first home with a 20% down payment. The file had two key challenges: she was still within a three-month probation period, and the full down payment was gifted by her parents. We presented the file to an A lender, explained the strength of the borrower profile, and requested exceptions for both the probationary employment and the gifted down payment. The lender accepted the exceptions and approved the mortgage.
- Solution
- Conventional A-lender mortgage
- Purpose
- First-time home purchase
Guelph Ontariofirst-time home buyersingle applicant
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