Embracing the Borrower’s Story: A Unique Refinance Approach

Written By Jessica Yang

Alternative Lending Case Spotlight

Neighbourhood Holdings

Embracing the Borrower’s Story: A Unique Refinance Approach

Scenario

Mr. Johnson recently sought a refinance for his rental property located in Shelburne, ON. This property, while holding immense potential, is just outside our usual lending area. As a result, it didn't meet our standard guidelines.

Solutions

Fortunately, at Neighbourhood, we care about the borrower’s story. We didn't just see another declined deal; we spotted an opportunity with the client’s principal residence, and a chance to help him achieve his financial goals. Here's how we crafted a tailor-made solution that suited him best:

By taking a holistic view, and adhering to the client’s best interest, we were able to:

  • do a blanket mortgage on both properties

  • pay out a significant amount of miscellaneous debts and judgment

  • increase his monthly disposable income by $1,000

  • prepare him for a solid exit strategy

Note:

The case study above is for educational purposes only, with the intended audience being licensed mortgage brokers.

Jessica Yang
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