Retired with no regular income and $200K short at completion — a private loan at 4.89%

A local retiree with no regular employment income. Some years earlier he had bought a presale; completion day had now arrived, and he found himself about $200,000 short. He had assumed this would not be difficult — the amount was modest and he had built up savings over the years. But being retired, without a steady income source, and with age counting against him, several traditional lenders reviewed the file and none could offer anything workable.

A friend introduced him to Guaranti. Going through it in detail, the picture was clearer than the declines suggested: he did not meet the major banks’ conventional criteria, but his asset base was solid and the actual shortfall was only around $200,000. The risk was not high. The question was not whether he could borrow, but whether the right financing could be found in the time available.

The team worked through his background and went out to a number of lending partners to compare options. A private loan at 4.89% was approved, covering the shortfall, and he completed on time and moved into the home he had been waiting for.