Purchasing a home or cottage – or both – is already a stressful enough situation without having to worry about financing. And that’s in a standard situation.
In the case of Donaldson Capital clients Tammy and Jim, it had the potential to be even more frustrating and worrying. The couple are successful and affluent entrepreneurs, but that doesn’t matter to most lenders.
“It was more difficult to get a mortgage, because we don’t have pay stubs,” says Tammy. “It was a complicated financial situation. We have our own company, and we have a holding company, so it was these entities that we had to work through.”
Mortgage broker Drew Donaldson and his Donaldson Capital team have the experience and hands-on knowledge to find financing solutions for a variety of non-traditional income situations. And, indeed, they were able to help secure mortgages for both a Toronto home and Muskoka cottage for Tammy and Jim.
“It was a crazy situation because, as you know, it is very competitive in the real estate market,” explains Tammy. “The property in Toronto had 37 offers on it. It was imperative that we had the financing done quickly. The same thing with the cottage property: there were multiple offers on it. Having the financing taken care of and knowing it was done correctly made us more confident when putting in our bid.”
Drew specializes in drawing on a range of options, including traditional banks and an array of lending institutions to help finance both residential and cottage mortgages. Tammy says they were very communicative, reachable and went above and beyond.
“Drew made it clear right away where we would be able to get a mortgage, and having that knowledge was very valuable,” she says. “As you know, buying property can be a hair-raising ordeal. They worked fast and we needed a highly experienced team to quarterback the process on both properties.”
“Each client has their own financing and capital requirements and I find strategies to meet their needs,” says Drew. “We know how competitive the market is right now and why it is essential to have financing secured before bidding on properties. The extensive knowledge and experience we bring is second to none in the marketplace and we look to add value each and every time.”
TEXT CHRIS OCCHIUZZI | PHOTOS SCOTT TURNBULL