Jerry: A Mortgage Solution for a Fresh Start
Going through a separation is never easy, and for Jerry, one of the biggest challenges was figuring out how to keep his home. As part of the separation agreement, he needed to buy out his wife’s share of the house. He assumed his bank—where he already had his mortgage—would approve him for the additional financing.
The Challenge: A Declined Application
Jerry’s bank reviewed his application and declined him for the amount he needed. The reason? He owned an additional property, and the debt associated with it was impacting his debt service ratios. With his bank unwilling to work with him, Jerry was left wondering if keeping his home was even possible.
The Solution: The Right Lender for the Right Approval
Jerry turned to ApproveU.ca, where his file was assessed with a fresh perspective. His challenges were clear, but every lender evaluates borrowers differently. By working with the right lender—one that considered his full financial picture—Jerry was approved for the mortgage amount he needed.
With his new financing in place, he was able to settle the separation agreement, keep his home, and move forward with confidence. Instead of being forced into an unwanted sale, Jerry secured his future on his terms.