A valued broker partner in the Greater Toronto Area experienced our commitment to being reasonable and looking beyond the application with a young client buying her first condo in Mississauga. The client was able to provide a 20% down payment by combining savings with a financial gift from her parents. However, with student loans, her total debt service (TDS) ratio was inflated and traditional lenders required a larger down payment. The client also wanted to furnish the condo and increasing her down payment would reduce her furnishing budget.
When our broker partner brought this application to the sales and underwriting team at Home Trust, we looked at the client's entire story. After factoring in the client's down payment and current income, we found that we could be flexible with her TDS ratio and offered a one-year alternative mortgage solution with the 20% down payment she provided.
Now that's reasonability you can Trust!
A valued broker partner in Vancouver experienced our firm commitment to being available to discuss deals. Our broker partner’s client faced an unforeseen personal issue and fell short on her down payment just before the deal on a new condo closed. While her partner could cover the needed amount and provide additional income to bring ratios within requirements, lenders wanted him to be a co-applicant.
After bringing the file to Home Trust, our sales and underwriting teams worked with the broker to find a solution. They found that the partner did not need to be co-applicant, but could be included a true guarantor instead. After reviewing the broker application, Home Trust was able to offer a Classic mortgage solution and closed her purchase on time.
Now that's availability you can Trust!
Home Trust's reliability was experienced by a valued broker partner in Hamilton when his client needed to delay the purchase of a residential property due to an unforeseen life event. Because the purchase was delayed, a different lender needed to re-pull the client’s credit and consequently decided to back out of the deal.
Our broker brought this file to her business development manager, who listened carefully and discussed it with his underwriter. Because our sales and underwriting teams work closely together, we were able to quickly offer a Classic mortgage solution that allowed the deal to close.
Now that's reliability you can Trust!