Purchase with private mortgage loan for self-employed truck owner (Gilles)

Gilles is a specialized heavy truck operator who is self-employed. He does a lot of deliveries in Quebec, western Canada, and the United States. Being self-employed, he sometimes has a lot of expenses. 

He wants to buy a home that would have a good size lot with big garage to store his trucks and parts. He is currently renting a house at $2,000 per month plus storage for his trucks and parts for $2,000 per month for a total of $4,000 per month! 

He has found a home that meets his needs perfectly. He has over 25% down payment and his credit rating is slightly below average.  

Here are the details: 

  • Purchase: Saint-Jérôme 
  • Price: $400,000 
  • 25% down payment 
  • Private loan for 75% of the value: $300,000 
  • Monthly payment: $2,875 per month 
  • Term: 1 year 

Gilles manages to:  

  • Enjoy the comfort of his new home today! 
  • Benefits from the annual appreciation of the house 
  • Saves $1,125 per month since he no longer pays for storage. 
  • Plus, we enrolled him the Canadian Credit Bureau’s credit repair program so that he can transition from a private loan to a traditional loan at the end of the term. 

For needs met with one well structured solution, fill out our online application today! 

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