$1.2M Cash Flow-Based Mortgage for Self-Employed Contractor Declined by Traditional Lender

Client: Wood Framing Contractor, Self-Employed 

Property Value: $1,600,000 CAD 

Loan Amount: $1,200,000 CAD via Schedule I Lender Facility

We were approached by a multigenerational family of six seeking to finance a shared home in Surrey. The household included two working brothers (a salaried retail employee and a self-employed plumbing contractor), their spouses working full-time as cashiers, and retired parents receiving pension income. Their joint goal was to purchase a $1.8 million property and live under one roof using a residential mortgage solution that could accommodate their diverse income sources.

The family contributed a $600,000 down payment from the sale of a property abroad. However, their home financing for mixed income—involving multiple applicants, unconventional employment, and rental suite revenue—was too complex for traditional banks. What they needed were alternative mortgage solutions designed to handle non-traditional income mortgage scenarios.

Our Approach: Credit Union Mortgage for Multigenerational Home Financing

We structured a credit union mortgage through a local lender with experience in complex, multi-applicant lending. Our team verified all income streams—including contractor earnings, salaried income, pension payments, and projected rental revenue—and packaged them cohesively for underwriting.

The result: a five-year fixed residential mortgage at 4.29%, approved in under two weeks and fully funded within 30 days.

Results

• Flexible Structure: Mortgage tailored to six applicants with diverse income types

• Fast Turnaround: Underwritten and funded within 30 days

• Shared Equity Success: Enabled all family members to co-own and co-inhabit the property

• Financial Inclusivity: Approval despite limited credit history for some applicants

  
  

This transaction showcases our ability to deliver effective multigenerational home financing for clients who fall outside the bounds of conventional underwriting. Whether you’re a blended-income household, self-employed, or new to the Canadian lending system, we’ll help you secure the residential mortgage solution that fits your real life.

Discover how we’ve helped clients secure the funding they needed by exploring our case studies. Visit our services page to see everything we can do for you.

Ready to take the next step?

Fill out our application form or reach out to us directly, and one of our expert mortgage brokers will work with you to create a financing plan designed to achieve your goals.