Qualifications

This individual was looking to refinance her mortgage to pay for renovations to her roof and garage after a heavy storm destroyed the shingles and caused flooding, which wasn’t covered under her home insurance policy. However she were unable to do so through a traditional lender due to her recent credit history.
Lendmax was contacted by a mortgage broker on behalf of this individual who explained her situation.  We were informed that her father had become ill just after losing his job. Without his company insurance, he was unable to pay for the medicine and equipment he needed.  As his only child, this individual paid for the necessary supplies only to subsequently lose her job shortly after his recovery.  As a result, some medical bills went unpaid, blemishing this individual’s credit score.  It had been over four years since this occurred, and since then this individual was once again gainfully employed and paid the entire balance of the overdue medical bills.  Her credit score, unfortunately, still showed these events.

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He spent several years self-employed in a market with large seasonal swings in revenue. His application indicated that, despite these swings, he had a good annual income, which was corroborated by his income tax forms.  He explained that his taxable income was reduced because he had reinvested some of his earnings into his business’s infrastructure after a particularly good season.

He spent several years self-employed in a market with large seasonal swings in revenue. His application indicated that, despite these swings, he had a good annual income, which was corroborated by his income tax forms.  He explained that his taxable income was reduced because he had reinvested some of his earnings into his business’s infrastructure after a particularly good season.

He spent several years self-employed in a market with large seasonal swings in revenue. His application indicated that, despite these swings, he had a good annual income, which was corroborated by his income tax forms.  He explained that his taxable income was reduced because he had reinvested some of his earnings into his business’s infrastructure after a particularly good season.

He spent several years self-employed in a market with large seasonal swings in revenue. His application indicated that, despite these swings, he had a good annual income, which was corroborated by his income tax forms.  He explained that his taxable income was reduced because he had reinvested some of his earnings into his business’s infrastructure after a particularly good season.

Where We Lend

Our Process

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1

Apply

Start by filling out an application for a mortgage or lending product right here on our website.

2

Review

Let our dedicated team of underwriters review your application.It should

3

Approval/Commitment

Within 24 hours, your application is approved, and the process of releasing the funds begins.

Time Lines

Be Prepared

Recent immigrants with limited credit

Self-employed entrepreneur

He spent several years self-employed in a market with large seasonal swings in revenue. His application indicated that, despite these swings, he had a good annual income, which was corroborated by his income tax forms.  He explained that his taxable income was reduced because he had reinvested some of his earnings into his business’s infrastructure after a particularly good season.

The Solution:

After careful review, we concluded his application package, including his company’s financial statements and tax returns, put him in an excellent position to repay the loan. We approved his application and we are happy to say that this individual repaid his loan in full without any complications.

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