This week’s uninsured case study features the refinance of an owner-occupied property for full debt consolidation to decrease monthly debt payments by 30%.
- 76% LTV
- Refinance of owner-occupied property
- Main applicant: employed full-time in a management occupation (health care industry) for over five years
- Co-applicant: employed full-time in a management occupation (government) for five years
- At current residence for more than three years
- Single-family House
- Vaughan, ON
- Main Applicant: 642 Beacon, 3 recent I3s, 1 recent paid R9
- Co-applicant: 614 Beacon, 1 recent R3, numerous recent R2s
- APPROVED at 76% LTV with 30-year amortization.
- 2-year term at 3.69% with 1% administration fee deducted from the advance.
- Deal subject to appraisal and income verifications, per XCEED policy.