No/Low Income Mortgages

With new mortgage lending guidelines coming down the pipe like the new stress test, it has become harder and harder for clients to qualify for conventional mortgage financing with the big banks. Having a good relationship with your bank means nothing these days and the concept of good will and benevolence don’t seem to exist. Good credit is not enough to qualify you for a mortgage these days. Most major lenders want proof of income that is both consistent and sufficient to cover the money you are borrowing. They want salaried employees with long term employment, whose taxes are up to date. The reality is that very few people can demonstrate one of these conditions, let alone all of these.