Mortgage Case Study – What to do when client does not have enough income to qualify?

Scenario: Client was a first time home buyer with AAA credit and 5% down-payment, but couldn’t qualify for the purchase price based on single income.

Mortgage Required: $300,000

Obstacles: Client does not have enough income to qualify for the mortgage on the property they want to buy.

What we accomplished:

– Thinking outside the box, we asked the client if their parents would be willing to be a co-borrowers on the mortgage
– With mom’s income we were able to approve the deal in 48 hours
– We structured the deal so that the client still got the first time buyer tax exemption while having a co-borrower who did not fit the exception criteria

What’s more interesting: We managed to get the client 99% of First Time Home Buyer exemption for the property transfer tax, tax paid was only $54.


– Client got approved for the home she really wanted to buy
– Client saved $5385 on the property transfer tax
– Find out what our clients say about us! Click Here
When banks say NO ✗ – We say YES! ✓

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