A couple who needed financing after their bank no longer wanted to proceed
To purchase their first detached home in Montreal, Geet and Maan, who were both full-time salaried employees with good credit, had secured mortgage financing with their bank. Unfortunately, shortly after being pre-approved, but before closing on their new home, Maan was laid off.

The couple was forced to live off their credit for daily expenses as Geet’s income was not enough to meet all of their financial obligations. As a result, Geet and Maan’s debt load was now higher, and their FICO scores fell below their bank’s minimum financing qualifications. Unable to close without mortgage financing, they were faced with the possibility of losing their deposit and their dream home.

Because Maan was able to find another job quickly and had an employment offer letter in hand, their broker committed to helping them find the right mortgage solution. He determined that they could still be eligible for a one-charge Home Trust Classic mortgage solution. This gave Geet and Maan the ability to purchase their dream home, where they now enjoy watching their daughter, Katiya, grow up.

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