Success Story: Saving a Deal After the Bank Said No
Some clients were sent my way from a realtor I work with regularly. They had an accepted offer in place and had been pre-approved through their bank. The bank told them everything was fine and to come back once they had an offer.
When the clients sent the accepted offer in, things quickly changed. The bank wasn’t able to approve the mortgage because the clients were moving provinces and changing jobs — something that had been discussed during the original pre-approval.
Job changes can make things tricky during the mortgage approval process. Not all lenders are comfortable with it, especially if the new job doesn’t start until after the purchase closes.
Since brokers have access to many different lenders, each with slightly different lending guidelines and flexibility, we were able to get them approved. Financing was fully signed off in less than a week.
When you work with a broker, you get options that most banks can’t offer.
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We can find lenders that fit the situation, even if it’s a little outside the box.
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We know which lenders are flexible when it comes to job changes, probation periods, and relocations.
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We can move fast when time matters.
If you ever find yourself in a tricky spot with financing, reach out. Having options can make all the difference.