Jerry is looking to refinance after a COVID-19 disruption  

Jerry has been a self-employed HVAC technician for over 15 years. His stated annual net income before COVID-19 was $170K, sufficient to cover both his first mortgage and a second private mortgage. It also allowed him to put money aside in his TFSA and regularly contribute to his son’s RESP.

Unfortunately, due to COVID-19, Jerry’s business had to close temporarily while they figured out how to provide services in a safe manner, resulting in a temporary loss of employment. Jerry contacted his mortgage broker to discuss his options and ensure he could afford to make his mortgage payments on the detached home he purchased five years ago.

Determined to find the right solution, Jerry’s broker learned more about his strong tenure in his industry. Jerry’s well-established clientele and passion for great customer service have helped him secure multiple contracts for builders and residential homeowners.

As of May 19, Jerry was able to resume his HVAC services. Confident he would be able to regain his full income, Home Trust offered him a one-charge Classic mortgage solution to refinance his first and second mortgages. This solution also provided Jerry and his family with emergency funds in case a second wave occurs.

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