We help our client Cathy qualify for a mortgage to buy her dream home with no income and 50% down-payment.

No income due to Covid-19

Cathy is a self-employed hairdresser, renting a chair at an established salon. When Covid-19 hit, and the governments locked down the economy, the hair stylists industry was one of the hardest hit, and one of the last industries to open. Cathy was no exception and found herself without income during the lock-downs.

Bank says, no income, no mortgage!

Cathy had purchased a home directly from a builder in 2019 with a closing date of April 2021. Cathy had a pre-approval mortgage from her bank for the purchase of her new home and assumed that everything was fine. When she went to finalize her mortgage in February, her bank told her that without income they could not approve her mortgage. Cathy explained that she had no control over Covid, and that she was putting 50% down payment. The bank empathized with her situation but again confirmed that while she is not working, they could not approve her mortgage, no matter how much down payment she has.

We listen to Cathy's story

We met with Cathy at her home and immediately recognized how much she loved her work. She had a room full of pictures of clients with their hair cut and styled by her.  Alongside those pictures were numerous notes and cards from Cathy's clients thanking her for making them look beautiful.

Cathy also told us that over the years she had been able to save a sizeable nest-egg. Cathy had enough savings to cover a 50% down payment and still have enough savings leftover to cover her mortgage payments for 5 years.

We believed in Cathy and absolutely loved her story.

We offer mortgage solutions

We realized that without any income, it was going to be tricky, but we were confident that we could get Cathy's mortgage approved. We reached out to our top lenders and explained that Cathy's lack of income was Covid-19 related, and temporary. We painted a picture to our lenders of how Cathy is financially savvy, and how she has been able to save a sizeable nest-egg, and would have enough savings to cover her mortgage payments for at least 5 years.

Ultimately we found several lenders believing in Cathy and her story and we were able to get Cathy's mortgage approved.

Like we did with Cathy, we listen to your unique story, and fight to get your mortgage approved.