“They have tons of equity but don’t qualify under B20…” Here’s the thing about equity lending: it exists because banks literally can’t do it. B20 guidelines require income verification. Full stop. No wiggle room. No common sense exceptions. We’re provincially regulated. The funds we lend on come from individual investors, not the Bank of Canada. So when your client has 50% equity but their in...

“Their income is all over the map, but there’s definitely income…” Here’s a funny thing about lending based on Line 15000 of your Notice of Assessment: It’s a neat little box to underwrite against. Works great if you’re a salaried employee. Not so great if you’re running a fishing charter in Campbell River where thres fishing season, and the rest of the year. We get it. Income isn’t always ti...

“Their credit report reads like a horror novel, but the house was just renovated and is worth a lot…” Here’s what happens when life takes a wrong turn. A bad business venture. Workplace Injury. That divorce that dragged on for two years. Suddenly your credit score looks like a batting average and the banks won’t even return your calls. But here’s the thing – none of that changes what your ho...

Moving is supposed to be exciting. New town, new job, new chapter. So why do banks act like you’re asking for their firstborn when you need a mortgage? “You haven’t been at your new job for thre months” “Your self-employment income doesn’t count in a new market.” “We need to see established a year if you are part time contract - even if you’re working 40 hours under your new role” Meanwhile...

“Subjects came off their current home last week but their new place closes Friday…” Here’s a funny thing about bridge financing: everyone thinks it’s complicated. It’s not. Someone needs to close on their new house before their old house sells. Or their sale fell through after they removed subjects on their dream home. Or they found the perfect downsizer condo but haven’t listed the family hom...

“The appraisal came back as ‘property type: other’…” Here’s a truth about real estate that nobody wants to admit: not everything fits in a box. Banks have boxes. Nice, tidy boxes labeled “single family home” and “condo” and “townhouse.” Their computer systems literally don’t have a dropdown menu option for “converted church with commercial kitchen” or “geodesic dome on 40 acres.” We’ve funded...