Case Study

1. SCENARIOPrivate Purchase

This couple had been looking to purchase their own home for years. They had been declined by several banks and other mortgage brokers due to current bankruptcy issues on her end and several judgments that had been filed on his credit bureau. They had a large down payment saved. Both Mr. & Mrs. are self-employed. His business is finally showing lucrative results.


They both have previous credit issues. Many banks will not lend to someone who has previously suffered a bankruptcy. Additionally you must have been discharged for 1 to 3 years (depending on the lender) and have at least two reestablished trade lines (credit cards, personal loans etc.) for at least one or two years after the discharge.


We sourced their mortgage to a lender that would lend in the area they wanted to purchase with 35% down payment on the purchase price. She was the principal titleholder while he only went on as guarantor until he was able to clear up the judgements or they disappeared from his credit bureau. This lender required six months of bank statements to verify active business being generated by both parties, his T1 Generals for the last 2 years and her 2011 & 2012 NOA’s (Notice of Assessments that you get from the CRA Canada Revenue Agency after you file your taxes) to verify no taxes were owing to Canada Revenue.


Our private investors & resources allowed this couple to purchase the home of their dreams despite their credit issues. Learn more about private lending. Call us today to see if you would qualify!