Self-Employed or Child Support Income? Getting a Mortgage in Ontario When the Bank Said No
In this short video I talk about the income that doesn’t fit neatly in a box, and why a bank saying no isn’t always the end of the conversation.
Income that doesn’t fit the bank’s box
Maybe you’re self-employed. Maybe your pay is commission or bonuses. Maybe part of your household income is child support or disability payments. Any of these can leave a bank unsure what to do with your file, and that’s often when people hear no.
Different income doesn’t automatically mean no. If the money is there, it’s consistent, and you can afford the payments, the job is to structure that income properly, build the file the right way and find a solution that works for you.
What that looks like in real life
We start by looking at what you actually have coming in, how steady it has been, and what you’re trying to do: buy a home in Barrie, Simcoe County or elsewhere in Ontario. Then we put your income story together clearly, so it’s read the way it should be.
Bank said no? Let’s find another path. Every situation is different, and a no from one place is rarely the full story.
Related
Related: Bank said no to your mortgage in Barrie? Here’s what happens next
Let’s find another path
Bank said no? Let’s find another path. Run your own numbers first with my free Mortgage Toolbox (calculators and a pre-qualification you can do from your phone), then call or text me at 705-881-2780 when you’re ready. No pressure.
General education, not financial advice. Every situation is different and all financing is subject to lender approval.
Lora Fenn · Mortgage Agent Level 1 (#M25003153) · DLC Yellow Brick Mortgages · Brokerage Licence #13854
