Danny was a self-employed contractor who owned both his principal residence and a rental property. He had been using as many deductions as possible at tax time, so his taxable income was quite low in comparison to the amount of business he had performed.  His income was also quite varied from year to year. Because of the deductions and variations, his bank would only offer him a new mortgage with a hefty premium attached.

We were able to work with a lender who could look past the deductions and into the overall picture of Danny’s business, convincing them that he was a reliable borrower deserving a competitive interest rate. We were then able to refinance his primary residence in order to access equity which he used to acquire a second rental property.

Through the combination of his construction know-how and our ability to secure him financing, Danny now has not only a thriving contracting company but an ever increasing portfolio of income producing rental properties…

Disclaimer: Some names and identifying details have been changed to protect the privacy of individuals.