This week’s case study features the purchase of an owner-occupied townhouse in the GTA. The main applicant has bruised credit.
- 80% LTV
- Purchase of owner-occupied property
- Main applicant: employed full-time in a government occupation for 7 years
- Co-applicant: employed hourly in a professional occupation for 11 years
- At current residence for 17 years
- Freehold townhouse
- Brampton, ON
- Main Applicant: 568 Beacon, one current unpaid collection, 1 recent R3
- Co-Applicant: 834 Beacon, A1 credit
- APPROVED at 80% LTV with 30-year amortization.
- 2-year term at 3.94% with 1% administration fee deducted from the advance.
- Deal subject to appraisal and income verifications, per XCEED policy.