Could a Couple in Their 30s Move a CAD $1.5M Private Mortgage to a Big Five Bank Despite Low Reported Income?

A couple in their 30s had purchased an investment property worth more than CAD $2 million, using approximately CAD $1.5 million in private financing. As the loan approached maturity, they faced relatively high interest and renewal costs. They hoped to move the mortgage to a major bank instead of remaining in the private-lending market.

Income qualification was the first obstacle. Both spouses reported relatively low personal taxable income, while their household had more than CAD $2 million in total debt, including the maturing private loan. The property had substantial value, but a bank would also need to assess whether their qualifying income could support their existing obligations. On their reported personal income alone, a mortgage of roughly CAD $1.5 million would have been difficult to approve through a conventional bank review.

When the couple approached Guaranti Group, we examined their broader financial position. They operated a business in Canada and had accumulated meaningful assets. Their reported personal income did not fully reflect the household’s financial circumstances. Rather than looking only at the figures on their tax returns, we reviewed the business records, family assets and existing liabilities, then sought a financing option that could assess business owners under the relevant bank requirements.

Following document preparation, lender matching and the bank’s review, Guaranti helped the couple move the approximately CAD $1.5 million private mortgage in full to one of Canada’s Big Five banks. They completed the switch without renewing under the original private lender’s terms.

The couple initially wanted to reduce their financing costs, but the central challenge was presenting financial information the new bank could recognize under its lending criteria. Owning property and a business is not enough on its own for bank approval; low reported personal income does not necessarily mean private financing is the only option. For households with a more complex financial structure, the right financing path depends on how their full circumstances meet a lender’s requirements.