Matt & Dana: Turning a Mortgage Challenge into a Future Opportunity
Matt and Dana had worked hard to save for a down payment. They were ready to buy a home for their growing family and excited to take the next step. With Dana’s stable full-time job and Matt running his own business, they felt confident about getting approved for a mortgage.
The Challenge: Business Income and Mortgage Approval
While Dana’s income was straightforward, Matt’s bookkeeping was not. His business was doing well, but his accounting records didn’t clearly reflect his earnings, making it difficult to qualify for traditional mortgage financing. The banks weren’t willing to approve them, leaving Matt and Dana frustrated and unsure of their options.
The Solution: A Strategic Mortgage Plan
Through ApproveU.ca, Matt was connected with an experienced mortgage professional who understood business owners’ unique challenges. Instead of focusing solely on the numbers the banks were rejecting, they found a lender who recognized Matt’s true earnings and approved them for a mortgage.
The mortgage rate was slightly higher than a traditional bank rate, but it was only a short-term solution. Their mortgage professional created a plan for Matt to improve his financial records, so in just 12 months, they could qualify for a lower-rate mortgage with a major bank.
Now, Matt and Dana are happily settled in their new home with a clear financial roadmap for the future—one that will put them in an even stronger position in just a year’s time.