Is Your Income Too Low to Qualify for a Mortgage?

I recently did a mortgage for a client who had good credit but limited income.  He had gone to his bank to refinance his home but was declined because his debt servicing ratios were higher than the bank’s guidelines allowed.  A friend recommended him to me.  I got him the new mortgage with the cash out he was looking for.  His total debt service ratio (TDS) was 49% and his bank would only allow a TDS of 42%.

If you’re looking for a mortgage & feel that your TDS would be even higher & you wouldn’t be able to qualify, I still may be able to help you.  If you have a strong net worth & good credit give me a call today, no obligation.