This week’s uninsured case study features the refinance of an owner-occupied single-family home in Caledon for debt consolidation where the main applicant has significantly elevated debt ratios.
- 80% LTV
- Refinance of owner-occupied property
- Main applicant: employed full-time in a clerical occupation for just under four years
- At current residence for seven years
- Single-family house
- Caledon, ON
- Main Applicant: 644 Beacon, A1 credit, high credit utilization
- APPROVED at 80% LTV with 30-year amortization.
- 1-year term at 3.69% with 1% administration fee deducted from the advance.
- Deal subject to appraisal and income verifications, per XCEED policy.