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Scenario Hotline Success Story: Approval To Purchase in Days

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Approval to purchase in days

Customer Scenario 

The scenario hotline received a call from a broker who was unsure if his application and clients met the criteria for a Bluestone home loan. His clients were a married couple and didn’t own property together. The broker queried if we could accept the wife’s property as equity to help purchase an investment property for her husband, which he would hold sole ownership. He was also looking to get cash out in order to assist with the property purchase.

Workshopping the solution

The underwriter was able to identify that this transaction between husband and wife would provide an increase in marital wealth so was a beneficial agreement for both parties. This paired with the wife being the sole owner of the primary property, we discussed how we could package the application to get a quick result, obtaining approval within 4 business days from the initial call.

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