$100K income and still declined — rebuilding the income picture, $950K approved

A local resident, self-employed and running his own company. After years of work he wanted a home that suited his family better, had the down payment ready, and needed $950,000 to close. He was confident going in — his income was running at around $100,000 a year. Then the application went in, and it turned out his new work had not yet been in place for three months, so the bank could not use the new income and had to assess him on the roughly $50,000–60,000 he had earned before. Issues on his credit report weighed on the file as well, and the application was declined.

With the property slipping away, a friend referred him to Guaranti. Our read was that his position was not weak — the borrowing simply needed to be structured differently. We worked through the credit report issues first, then, looking at what he owned, suggested renting out his existing property to add steady rental income, improve the debt ratios and strengthen the repayment capacity a lender would recognise.

With the plan in place the team resubmitted to several lenders and worked the files through. $950,000 was approved, and the purchase closed.