Her existing mortgage broker said that the new deal wasn’t possible, as she had poor credit resulting from high debt associated with her business. The GLM Mortgage Group team assured her it was possible and helped her achieve her goals.
For more information on Business for Self and your Mortgage call us today at 604.259.1486.
Purchase Price Of Home
Used stated income of $150,000 based on gross business revenues combined with rental income of $2,500/month. Strategy includes paying down debt and increasing credit score over the next year through an alternative/B lender (higher interest rate but tolerates lower credit scores) in order to ultimately negotiate with a conventional/A lender with a better interest rate (stricter guidelines).
Requested Mortgage Amount
Bank statements reflecting one month of business activity
Verification of Business for Self
Total Debt Services Ratios