Case Study 8

Purpose Applicant wants to refinance a newly constructed home to consolidate 1st and 2nd mortgages and payoff $25K in debts Income and Debt Servicing Salaried income earning $89K annually Employment verified by employment letter, pay stub, and verbal confirmation by employer GDS/TDS is 36/36% with stressed TDS of 43% using the mortgage rate plus 200bps Mortgage Details LTV 80% Pre-Construction Property Value (2016) $400,000 Post-Construction Property Value (2018) $500,000 GDS/TDS Calculation Salaried Income  100% $89,000 GDS/TDS 36/36% Stressed TDS 43% Credit 550 Beacon due to piling of bills during past unemployment Excellent mortgage repayment history Property Newly constructed home purchased in 2016 $500,000 current appraised value 3 comparables in a highly marketable prime lending area with DOM under 90 Deal Rationale: The client was able to refinance their home for $400K on a 1 year term at 80% LTV. The client was able to consolidate their 1st and 2nd mortgages, $35K in debt, and improve their cashflow by $700 monthly.

Contact Us Today
Please Visit https://moneyvalue.ca

Case Study 7

Purpose

• Applicant wants to purchase home while away from work on maternity/paternity leave
• Recently seperated from spouse and currently renting apartment

Income and Debt Servicing

• Stable salaried positions earning $55,000
• Employment verified by employment letter, pay stub, and verbal confirmation by employer
• $1.5K in monthly child and alimony support
• $541 in monthly Canada Child Benefits
• GDS/TDS is 39/39% with a stressed TDS of 46% using the mortgage rate plus 200bps

Mortgage Details
LTV	80%
Property Value	$400,000

GDS/TDS Calculation Salaried Income (Maternity/Paternity Leave) 100% $55,000 Additional Income Sources Child and Alimony Support 100% $18,000 Canada Child Benefits 100%  $6,492  $79,492 GDS/TDS 39/39% Stressed TDS 46%

Credit

• 550 Beacon
• Payments and bills were missed during the difficult period leading up to the applicant's divorce
• Excellent mortgage repayment history on previous home

Property

• $400,000 property value
• Good condition, well maintained property in suburban area

Down Payment

• $20K down payment from client's own savings
• $60K from the seperation settlement 

Deal Rationale:

Client was offered a 1 year mortgage at 80% LTV. The client was able to purchase a new home to raise their child in. 

Contact Us Today
Please Visit:  https://moneyvalue.ca

Financial Peace Today

Protect Your Family Today.

Case Study 6

Purpose

• Couple trying to start fresh after past bankruptcy
• Refinance of home appraised at $400,000
• Equity take-out to pay off first and second mortgages, and consolidate debts on the credit bureau

Income

• Combined household income of $140K in stable salaried positions
• Income verified by employment letter, verbal confirmation by employers, and pay stub

Credit

• 550 Beacon
• History of bankruptcy due to one spouse's past marital breakdown - has since been discharged and working towards rebuilding credit
• GDS/TDS is 41/44% with stressed TDS of 49% using the mortgage rate plus 200bps

Property

• Well-maintained, detached home with finished basement
• Suburban area with average of 60-90 DOM

Deal Rationale:

Lender was able to offer a 1 year mortgage at 80% LTV to allow the client to pay off first and second mortgages and consolidate debts. With an additional monthly cash flow of $1,000, we have helped to place this couple on a path of sustainable credit repair.

To Learn More Contact
MoneyValue
E: edwin.m@moneyvalue.ca
T: 416 822 5886
Visit https://moneyvalue.ca

Case Study 5

Purpose

• Refinance home to consolidate 1st and 2nd mortgages and payoff $20,000 in debt

Income and Debt Servicing

• Stable salaried position earning $65,000
• Employment verified by employment letter, pay stub, and verbal confirmation by employer
• GDS/TDS is 39/39% with stressed TDS of 46% using the mortgage rate plus 200bps

Credit

• 520 beacon due to family member's illness
• Medical bills started to pile up and client's credit was bruised
• Excellent mortgage repayment history

Property

• $400,000 property value
• Good condition, well maintained property
• Suburban area with DOM under 30

Deal Rationale:

Was offered a 1 year mortgage at 75% LTV. The client was able to consolidate $20,000 in debt and improve their cashflow by $750 monthly.

Contact Us to Learn More
MoneyValue
E: edwin.m@moneyvalue.ca 
Please Visit: https://moneyvalue.ca

Manulife Travel Insurance - Affordable Protection

Part 1: Insurance for Traveling Canadians

If you are headed out of the province or the country, Manulife Travel Insurance for Travelling Canadians is the best plan for your financial protection.

What is it?

It offers emergency travel medical coverage up to $5,000,000, for Canadians traveling out of their home province.

What’s covered?

• Up to $5 million in emergency medical coverage
• Coverage for paramedical services
• Ambulance transportation
• Emergency dental
• Expenses related to death
• Emergency medical return home
• Visit to bedside if travelling alone
• Return of children in the care of the insured
• Additional expenses for meals and hotel
• Return home of vehicle
• Trip break without terminating coverage

Part 2: Insurance for Visitors to Canada

Do you have clients heading to Canada for a visit? Or maybe you are expecting friends or relatives to visit from overseas. In that case, recommend Manulife Travel Insurance for Visitors to Canada.

What is it?

Different amounts of coverage are available to help protect visitors to Canada from out-of-pocket health care expenses.

What’s covered?

• Emergency medical attention
• Coverage for paramedical services
• Ambulance transportation
• Emergency dental treatment
• Expenses related to death
• Emergency medical return home
• Additional expenses for meals and hotel
• Visit to bedside if travelling alone
• Childcare expenses
• Return of children
• Trip Break

Apply Online Now