Bajani Mortgage

Local Mortgage Scenarios

Illustrative examples of how different files can be structured across London and Southwestern Ontario. Every situation is different; approval and rates depend on individual qualification.

Mortgage Strategy Explorer

24 Mortgage Strategy Scenarios

One goal: finding the right structure for your situation. Explore illustrative mortgage scenarios from London, St. Thomas, Ingersoll and surrounding Southwestern Ontario communities.

Illustrative scenarios • Results vary • Subject to qualification

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Showing 24 strategies

Old East VillageFirst-Time Buyer

The rental-income first-timer

$60K approval gap closed

A couple had an offer in on a $520,000 century semi with a legal, tenanted basement renting for $1,400/month. Their bank's calculator only credited half that rent, leaving them about $60,000 short.

Illustrative scenario

  1. Problem

    A couple had an offer in on a $520,000 century semi with a legal, tenanted basement renting for $1,400/month. Their bank's calculator only credited half that rent, leaving them about $60,000 short.

  2. Evaluation

    Confirmed the unit was municipally compliant and fully documented.

  3. Strategy

    Target a lender that counts a compliant secondary unit at 100%, not 50%.

  4. Execution

    Packaged the lease and compliance documents to meet that lender's requirements.

  5. Result

    The full $60,000 gap closed — approved for the exact semi at their original price, instead of shopping $60K lower.

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Wortley VillageRenewal

Renewing into a smaller payment

$180/mo saved + better rate

Her bank's renewal letter offered 5.44% on her maturing $310,000 balance — higher than the 4.79% new customers at the same bank were getting.

Illustrative scenario

  1. Problem

    Her bank's renewal letter offered 5.44% on her maturing $310,000 balance — higher than the 4.79% new customers at the same bank were getting.

  2. Evaluation

    Compared the renewal offer against the full open market for the same term.

  3. Strategy

    Move to a monoline lender offering better than even the bank's new-customer rate.

  4. Execution

    Handled the switch paperwork directly, no renewal signature required.

  5. Result

    Landed 4.69% — better than the bank's own new-customer rate — dropping her payment from ~$1,910 to ~$1,730/month.

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White OaksIncome & Employment

Two incomes, one strong file

Semi-detached, not townhouse

A factory worker and a PSW were pre-approved for a $430,000 townhouse, but their overtime — nearly 20% of real household income — was excluded entirely.

Illustrative scenario

  1. Problem

    A factory worker and a PSW were pre-approved for a $430,000 townhouse, but their overtime — nearly 20% of real household income — was excluded entirely.

  2. Evaluation

    Pulled two years of T4s and pay stubs showing the overtime was consistent, not occasional.

  3. Strategy

    Match to a lender who averages consistent overtime in rather than excluding it.

  4. Execution

    Packaged both incomes with two full years of supporting documentation.

  5. Result

    Approved amount rose to $478,000 — enough to move from the townhouse to a semi-detached with a yard, at a rate ~0.15% lower than their bank's offer.

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RiverbendBridge Financing

Buying before selling

$65K bridge, zero gap

Their new home closed June 16, current home's sale wasn't closing until June 30 — a 14-day gap with no cash to carry both.

Illustrative scenario

  1. Problem

    Their new home closed June 16, current home's sale wasn't closing until June 30 — a 14-day gap with no cash to carry both.

  2. Evaluation

    Reviewed available equity to see if bridge financing could cover the gap.

  3. Strategy

    Arrange a $65,000 bridge loan secured against that equity.

  4. Execution

    Coordinated with both lawyers so the bridge discharged automatically on sale day.

  5. Result

    The 14-day gap closed cleanly — no double mortgage payment, no temporary housing.

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ArgyleCredit Rebuild

Credit in the 590s, strong down payment

20% down, approved

Two big banks turned him down after two late payments during a business slowdown — despite $84,000 saved toward a $420,000 home.

Illustrative scenario

  1. Problem

    Two big banks turned him down after two late payments during a business slowdown — despite $84,000 saved toward a $420,000 home.

  2. Evaluation

    Confirmed what caused the dip and that payments had been clean for months since.

  3. Strategy

    Pair the down payment with a written explanation for an alternative lender.

  4. Execution

    Built the explanation letter and matched it to a lender comfortable with the profile.

  5. Result

    Approved on a one-year term at roughly 1.4 points above prime, with a plan to refinance after 12 clean months.

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SunningdaleSelf-Employed

The self-employed consultant

$650K purchase confirmed

His T1 showed $58,000 in taxable income after legitimate write-offs — well below what a $650,000 purchase required.

Illustrative scenario

  1. Problem

    His T1 showed $58,000 in taxable income after legitimate write-offs — well below what a $650,000 purchase required.

  2. Evaluation

    Reviewed 12 months of business bank statements to see the real cash flow.

  3. Strategy

    Match to a lender who underwrites self-employed income off statements, not the T1.

  4. Execution

    Compiled the statements into the format that lender required.

  5. Result

    Deposits averaged the equivalent of $96,000/year — approved for the full $650,000 purchase, rate only ~0.3% above a standard file.

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Your mortgage will not look exactly like these scenarios. But the right evaluation could reveal options you have not considered.

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Nandan Bajani | The Mortgage Firm | Brokerage Licence #13466

Illustrative scenarios only. Rates, savings, qualification and available mortgage strategies vary by borrower, property, lender and market conditions.

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