Recently Funded•Pembroke
CAF Veteran Self-Build Construction Loan and Major Bank Refinance
A retired Canadian Armed Forces veteran was self-building a residential property after retirement. The borrower had stable pension income but credit challenges after using credit cards to fund part of the construction. The property was approximately 80% complete, while institutional financing required the property to be substantially complete before funding. HopeWell arranged a short-term private construction loan to complete the property, then structured a major bank refinance with a requested credit-score exception. The refinance consolidated the borrower’s debts and was expected to reduce monthly debt liabilities by approximately $3,500.
- Solution
- Private construction loan followed by major bank refinance
- Purpose
- Construction completion, private mortgage bridge, debt consolidation, and institutional refinance
Canadian Armed Forces veteranCAF veteranpension income
Read the case study →Recently Funded•Mississauga
Mississauga Pre-Construction Purchase with Appraisal Shortfall
Clients purchasing a pre-construction property in Mississauga faced an appraisal shortfall because the appraised value came in below the purchase price. They needed additional down payment funds and owned another property with strong equity. A quick private mortgage appeared attractive at first, but the payment from that mortgage would have pushed their debt-service ratios outside the bank’s limits for the new purchase. HopeWell instead arranged an A-lender refinance on the existing property at a low rate and then arranged the purchase mortgage with the same lender, allowing the clients to access equity while keeping ratios in line.
- Solution
- A-lender refinance and purchase mortgage
- Purpose
- Purchase completion and equity take-out
appraisal shortfallMississaugapre-construction purchase
Read the case study →Recently Funded•Brampton
Commercial Property Funding in Brampton for an Urgent Tuition Deadline
A commercial property owner in Brampton needed urgent liquidity to meet a time-sensitive tuition payment deadline after a family member received admission to a leading U.S. university. Commercial mortgage financing can take longer than residential financing because of appraisal, property-use, and lender-review requirements. HopeWell coordinated the application, appraisal, lender review, and closing with a private lender, allowing the file to fund within approximately 10 business days.
- Solution
- Private commercial mortgage
- Purpose
- Urgent liquidity requirement
commercial mortgageBramptonurgent funding
Read the case study →Recently Funded•Brampton
Private Construction Loan for a Place of Worship in Brampton
A place of worship in Brampton required a multi-million dollar construction loan. The file was difficult because many lenders had reduced appetite for large construction advances, and places of worship are specialized-use properties that can create marketability, enforcement, and reputational concerns for lenders. HopeWell approached private lenders that were comfortable reviewing both construction risk and specialized institutional property risk, and arranged a private construction loan for the project.
- Solution
- Private construction loan
- Purpose
- Construction financing
construction loanplace of worshipBrampton
Read the case study →Recently Funded•Kitchener
Refinance from Private Mortgage to A-Lender Approval
A borrower was paying approximately 10% interest with a private lender and approached HopeWell expecting a possible B-lender refinance. After reviewing the credit, income, property, and full file strength, HopeWell identified that an A-lender submission might be possible if the correct exceptions were requested and supported. The file was approved by an A lender, reducing the interest rate by approximately 60% and cutting the monthly payment to less than half.
- Solution
- A-lender refinance
- Purpose
- Refinance
private mortgage exitA lenderrefinance
Read the case study →Recently Funded•Wallaceburg
Helping a Retired Couple Bring Their Mortgage Back Into Good Standing
A retired senior couple owned two residential properties: one with a mortgage and HELOC, and one owned free and clear. After a renewal-related servicing issue, they unexpectedly ended up in default and believed they needed a large private mortgage to pay out their bank. HopeWell determined that a large private mortgage would create unnecessary affordability pressure. Instead, HopeWell negotiated with the existing lender to accept arrears and reinstate the mortgage, then arranged a smaller private mortgage against the free-and-clear property to cure the arrears.
- Solution
- Private mortgage used for arrears reinstatement
- Purpose
- Mortgage arrears cure and reinstatement
senior borrowersmortgage arrearsprivate mortgage
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