Refinance from Private Mortgage to A-Lender Approval

The Challenge

The client was already with a private lender and was paying a significantly higher interest rate than typical institutional mortgage options. At first, the expected solution appeared to be a B-lender refinance. However, the file required a deeper review because there were certain areas where the client did not fit perfectly into standard A-lender guidelines. The challenge was to determine whether the file could be structured properly and whether the right lender would consider reasonable exceptions.

Why This File Was Unique

• Client was paying approximately 10% interest with a private lender
• Initial expectation was a possible B-lender refinance
• Credit review suggested there may be a path to an A-lender solution
• The file required careful structuring before submission
• Approval depended on lender discretion and requested exceptions
• The final result was significantly better than the client originally expected

HopeWell’s Approach

HopeWell reviewed the client's credit, income, property, and overall file strength. Instead of immediately placing the file with a B lender, we structured the application for an A-lender submission and presented the file to a leading institutional lender with the necessary exception requests and supporting rationale.

Result

The A lender approved the refinance. The client's interest rate was reduced by approximately 60% compared with the private mortgage rate, and the monthly mortgage payment was reduced to less than half of what the client was previously paying.

Related Mortgage Options