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Scenario walkthroughs

The files that don't fit the brochure.

Every clean pre-approval looks alike. Complex files differ in specific, documentable ways. Find yours.

Self-employed pre-approval

Self-employment is not a problem on its own. The problem is the gap between what your business earns and what your NOA shows after legitimate write-downs.

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Newcomer to Canada pre-approval

If you've landed in Canada in the last five years, you can get a mortgage — but the file is judged on different rules than a borrower with a long Canadian history. The good news: those rules are written down, and you can prepare for every one of them.

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Gifted down payment

Gifted down payments are accepted by every major Canadian lender — provided they're documented to FINTRAC and lender standards. The work is in the paper trail, not in the conversation with your parents.

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Bonus and commission income

If a big chunk of your pay is variable, the lender is going to average it — not take your best year. Plan around the average, not the peak.

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Rental income on existing properties

Rental income helps you qualify — but not as much as the rent cheque suggests. Lenders apply offset or addback rules that shrink the apparent benefit.

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Bruised credit pre-approval

A late payment, a collection, even a past consumer proposal does not end your mortgage chances. It changes which lenders will look at the file and what they'll charge.

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Co-signer and guarantor files

Adding a co-signer or guarantor can rescue a debt-service ratio, but it does not erase the underlying problem — and it ties two financial lives together.

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Pre-approval on maternity or parental leave

Being on leave does not disqualify you. The right lender will use your full pre-leave salary on a documented return-to-work — and that one policy difference can be worth $100,000 of qualification.

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Pre-approval while on probation

Probation is the awkward middle. Some lenders refuse outright; others will look closely at the offer letter and your industry continuity.

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Pre-approval with a heavy car loan

Vehicle loans are quietly the most common reason borrowers fail the stress test. The math is brutal: every $400/month of debt cuts your max mortgage by about $70,000.

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Pre-approval with student loan debt

Student debt counts against you even when you're not actively paying it. The deferral that helps your cash flow doesn't help your mortgage math.

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Second property and investment files

Owning two properties is a different game. Different down payment rules, different rental math, different lender appetite.

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Refinance and equity takeout

Refinancing taps the equity you've built. The ceiling is firm: 80% of appraised value, no exceptions, and you re-qualify at today's stress-test rate.

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Mortgage renewal vs switch to a new lender

Your renewal letter is not a quote — it's an opening offer. Switching to a new lender is easier than most people think, and the rate difference is usually real money.

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Accepted offer with no pre-approval in place

This is the highest-pressure mortgage scenario in Canada. The financing condition clock is the only thing standing between you and a deposit you can't recover.

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