Randy & Pamela: A Mortgage Renewal That Works!
Randy and Pamela had been enjoying a low mortgage rate for the past five years. But as their renewal date approached, they faced a tough reality—their new rate would be more than double what they had been paying, and their monthly mortgage payments were about to increase significantly.
The Challenge: Rising Rates and Debt Consolidation
On top of the higher mortgage payment, they had accumulated some debt over the years and wanted to roll it into their new mortgage to simplify their finances. When they approached their bank, they were met with disappointing news: they didn’t qualify for the amount they needed. With time running out before their renewal, they felt stuck.
The Solution: A Better Approval with the Right Lender
Not all banks approve borrowers the same way, and Randy and Pamela were referred to ApproveU.ca for a second opinion. After reviewing their application, ApproveU.ca found a lender that could qualify them for the full amount they needed.
With their new mortgage in place, they were able to obtain a competitive rate, consolidate their debt, and keep their monthly payments manageable. Instead of feeling the financial strain of rising interest rates, Randy and Pamela now have a mortgage that works for them—giving them stability and peace of mind for the future.