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At Pillar, we take a straightforward approach to the mortgage applications we receive from brokers. We lend only when our mortgage will help place the borrower in a better position, sooner rather than later. If we determine that your client will struggle to keep their mortgage afloat, we simply won’t lend. Hearing no is disappointing, but being set up for failure or having your house repossessed is infinitely worse.
Of course, in order to make this call, we need a clear picture of your client’s situation, which is why our underwriting documentation checklist is so important. We require detailed documentation for every application because it allows us to go beyond one-size-fits-all mortgages and instead offer flexible solutions that create value for everyone.
To solve a puzzle, you need to start with all the pieces. Below are the documents that we require with every mortgage application, outlining their importance when structuring a customized mortgage solution:
Aside from these, we require additional documentation depending on the type of mortgage (residential, construction or refinance) and whether there is a previous or ongoing bankruptcy or consumer proposal to take into account.
At Pillar, we’ve been helping Ontarians build and buy their dream homes for over 30 years. What’s allowed us to grow and thrive over these decades? Embracing the idea that we succeed only when our borrowers succeed.
We get to know the people, families and lives behind each borrower by collecting detailed documentation during the mortgage application process. By understanding your client’s finances, employment and personal circumstances, we can assess their situation holistically and design a solution that will create successful outcomes for everyone.
If you have a client who would benefit from a flexible residential mortgage, please contact Pillar today: