Real Deal | Rental Purchase Approval in Toronto

Rental Purchase Approval in Toronto
35-year amortization

This XMC Alternative approval highlights a $900K loan for a client with re-established credit purchasing an investment property in Toronto.

Our client previously missed some payments but worked hard to rectify and improve his credit. Now he owns multiple rental properties, has stable long-term employment, and is able to purchase this new home in a desirable market!

Market growth and net worth expansion are the goals for this client. We are happy to help achieve those dreams! We used 35-year amortization to approve the loan at 74.90% LTV with a 3.24% interest rate.

We’ll also cover one year of FREE Home System Warranty Program worth up to $10,000 annually, PLUS the client will benefit from our Special Rate Promo offering competitive Alternative rates!

Deal Highlights

  • 35-year amortization
  • 3.24%
  • Rental in Toronto
  • Deal approved at 74.90% LTV
  • 1-year closed

CREDIT

  • GDS/TDS: 14.07%/49.77%
  • Beacon scores: 761

EMPLOYMENT

  • Type: Permanent full-time; Professional
  • Tenure: 10 years

PROPERTY

  • Occupancy: Rental
  • Location: Toronto, ON