Purchase Price Of Home
$355,000.00
LTV
80%
Credit Scores
702 & 817 (Father who was her co-signer)
Mortgage Solutions
Using a 35-year amortization, the GLM Mortgage Group was able to secure a new mortgage that covered her present mortgage and consumer debt. Her father, who had excellent credit and a strong financial position but little income, was able to co-sign. GLM Mortgage Group had a solid relationship with a local credit union that recognized the value of the co-signer and provided a solution.
Requested Mortgage Amount
$284,000.00
Income Documentation
Appraisal
Working contracts
Bank statement reflecting deposits for disability
Confirmation of property details including mortgage statements and strata fees
Separation agreement
Standard documentation for disability (daughter) and pension (father)
Total Debt Services Ratios
46.994% (Due to the relationship with the GLM Mortgage Group and overall strength of her file, the lender made an exception)