Bryn was looking to inject money into her new business
For 15 years, Bryn and her husband lived with her father in a lovely home in a great neighbourhood in Toronto. Bryn’s father had owned the house over 40 years before passing ownership on to her as an early inheritance. This exchange came with the understanding that she would pay him a sum equivalent to a down payment for the house.

A savvy entrepreneur, Bryn has two businesses she established a few years back. She owns one at 100% while the other is a 50% shared ownership with her husband. Bryn, who primarily works as a commission-based Financial Service Advisor, was looking to embark on a new career. With a keen interest in supporting new moms and babies, she recently completed a certification program to become a Lactation Consultant.

As Bryn moved forward to pursue this new career, she wanted to access the equity in her home to pay out her father and consolidate some existing debt. However, Bryn’s varied income sources made it difficult to provide the type of documentation required by the banks. She was unable to qualify with an A lender and needed to find an alternative mortgage solution.

With the help of her broker, it was determined that Bryn’s well-established businesses and two years’ worth of income documentation were enough for her qualify for a new first mortgage with Home Trust. She also qualified for an Equityline® Visa and thus was able to pay out her father and her other debts. This financing solution provided her with flexibility to help fund her new career as a lactation consultant.

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