CASE STUDIES

Case studies from real broker files

Real files our brokers placed, the problem, the structure and how it funded. Names and identifying details are removed.

Client details are changed or removed and figures are rounded to protect privacy.

Purchase · British Columbia (Fraser Valley)LATEST FILEA new build townhouse purchase with ratios above A lender limitsA couple with two rentals bought a new build townhouse with 20 percent down. Ratios of about 42 and 52 percent put it outside A lender limits, so it went to an alternative lender and was approved the next day.

1 daysubmission to approval
52%total debt serviceGDS about 42 percent
80%loan to value20 percent down, own resources

Approved and fundedRead the file

Refinance · British Columbia (Metro Vancouver)Refinancing out of a MIC and back to an alternative lenderA couple who had used a MIC to consolidate debt refinanced out of it about a year later with an alternative lender. Low loan to value carried ratios in the mid 50s, and the file was approved the day after submission.45%loan to value1 daysubmission to approval706 & 768credit scoresApproved and fundedRead the file
Purchase · British Columbia (Lower Mainland)Buying a new home and keeping the old one as a rental, with the down payment from a HELOCA buyer moved up to a detached home, kept his current home as a rental and funded the 20 percent down payment from a HELOC on the old property. An alternative lender approved it in two days.2 dayssubmission to approval80%loan to value$4,200expected monthly rentApproved and fundedRead the file
Refinance · British Columbia (Lower Mainland)Refinancing to consolidate debt with credit scores in the 600sA couple with scores of 600 and 661 refinanced their detached home with a big five bank, cleared their unsecured debt and car loan, and cut monthly payments by more than $2,500.$2,500+monthly payment reduction61%loan to value600 & 661credit scoresApproved and fundedRead the file
Purchase · British Columbia (Lower Mainland)Qualifying a condo purchase on one income plus a second jobAn insured condo purchase approved by a big five bank on one applicant's income: a salaried role, a raise not yet on a paystub and a part time second job with guaranteed hours.1income used to qualify87%loan to value800+credit scoresApproved and fundedRead the file