Dominion Lending CentresDLCG · #1 for new mortgages · $84.5B in 2025
Case Study · Residential / Prime

One Income and Ratios Over 46%: A Major Bank Financed a First Townhouse at 80% in Coquitlam

A married couple who had moved to BC about a year earlier were buying their first home: a three-bedroom, four-bathroom townhouse in a gated community on Coquitlam's Westwood Plateau, valued at about $1.4 million.

Closed in 2024 · Published October 18, 2026

  • Residential
  • Prime lender
  • Purchase
  • First-time buyer
  • Single income
  • Relocation
Value
about $1.4 million
Mortgage
about $1.1 million
Loan-to-value
80% of the value
Debt-service ratios
about 47%
Rate in 2024
7.00%, five-year variable, 30-year amortization

The Situation

A married couple who had moved to BC about a year earlier were buying their first home: a three-bedroom, four-bathroom townhouse in a gated community on Coquitlam's Westwood Plateau, valued at about $1.4 million.

The Challenge

Only one spouse was earning, as a staff software developer on about $250,000 a year; the other was studying software engineering full time, about six months from finishing. On one income the debt-service ratios came to about 47%, above the usual 44% limit.

The Solution

In 2024 we placed about $1.1 million with a major Canadian bank, 80% of the value, on a five-year variable term at 7.00% with a 30-year amortization. The file rested on scores of 811 and 829 on mature credit, and on savings and investments of about $510,000.

The Outcome

The couple bought their first home with 20% down from those savings, which also covered closing costs, with money left over.

Run the numbers

Affordability Calculator

A first townhouse bought on one income. See what your own down payment and income support.

Open it full size →
Income & debts
Monthly liabilities

How lenders count these: car loan = actual payment; credit cards + unsecured personal LOC = 3% of balance each; student loan = 1–1.5% of balance even on a $0 plan.

Mortgage terms
Amortization
Term
Rate type
Housing carrying costs (monthly)

Heat: CMHC standard $100/mo. Condo: only 50% counts toward your housing ratio.

Max purchase price
$738,567
$638,567 mortgage + $100,000 down · limited by down payment
Total monthly debt (stress-tested)$4,550

Qualified at 6.50% (OSFI B-20 stress test).

Two ways to buy

Same income, same down payment — two strategies. Insured pricing assumed ~0.25% below conventional.

Conventional
20% down (uninsured)
$500,000
Down: $100,000 (20.0%)
Mortgage: $400,000
Rate assumed: 4.75%
Monthly payment
$2,075/mo
Principal & interest at 4.75% over 30-yr amort
Saves $19,796 in CMHC premium
− Extra interest @ +0.25% over 5-yr term: $4,750
Est. net savings: $15,046

Limited by 20% down rule — extra income capacity is unused.

Insured
Less than 20% down (CMHC-insured)
$738,567
Down: $100,000 (13.5%)
Mortgage: $638,567
Rate assumed: 4.50%
Monthly payment
$3,320/mo
Principal & interest at 4.50% over 30-yr amort
+ CMHC premium: $19,796 (financed)
Total loan w/ premium: $658,363
30-yr insured amort (first-time buyers / new builds only) adds a 0.20% premium surcharge — not included above.

Limited by income — your cash covers more than the minimum down at this price.

What this calculator does that most don't
  • Models liabilities the way lenders actually do: credit cards at 3% of balance, student loans at 1–1.5% of balance even on $0 payment plans
  • A multi-property builder that applies 100% rental add-back to income and full carrying costs to TDS — portfolio buyers get real numbers
  • Compares insured vs conventional side by side, netting the CMHC premium saved against the extra interest of the higher conventional rate
  • Discloses the exception ratios brokers actually place files at: A-lenders to 50/50, alternative lenders to 60/60 — numbers no bank calculator will print
Want a real plan, not just an estimate?
Send Ramin exactly what you just calculated — your scenario rides along automatically, so the first conversation starts at your numbers, not at zero.
or use the full contact form

Contract vs stress-test payment

Lenders qualify you on the taller bar — even though you actually pay the shorter one. That's the OSFI B-20 stress test in one picture.

Free personalized quote

Get your real mortgage approval amount

Every file is different — rental addbacks, lender exceptions, and alternative-lender stretch policies vary case by case. We'll run your exact scenario and tell you precisely what you qualify for.

Get my free personalized quote

No credit pull · No spam · Reply within hours

Exceptions — you may qualify for more▾
  • • Conventional (A-lender) — strong files: as an exception, may be considered up to 50% / 50% GDS / TDS.
  • • Alt-lender (minimum 20% down): up to 60% / 60%, and even higher at ≤65% LTV.
  • • Insured deals (< 20% down): hard capped at 39% / 44% — no exceptions.

This calculator shows the standard 39/44 case. Exceptions depend on file strength and lender — get in touch to find out your true qualification.

Questions and answers

Questions about this file

Can a couple buy on one income with ratios over 44%?+

This couple did. In this 2024 file only one spouse was earning, as a staff software developer on about $250,000 a year, the ratios came to about 47%, above the usual 44% limit, and a major Canadian bank placed about $1.1 million, 80% of the value.

What carried the file?+

Strong credit and savings. In this 2024 file the file rested on scores of 811 and 829 on mature credit, and on savings and investments of about $510,000.

Can you buy while a spouse is still studying?+

This couple did. In this 2024 file the other spouse was studying software engineering full time, about six months from finishing, and the couple bought on the one income.

Can you buy soon after moving to BC?+

This couple did. In this 2024 file the couple had moved to BC about a year earlier and bought a townhouse on Coquitlam's Westwood Plateau, valued at about $1.4 million.

Where did the down payment come from?+

From savings. In this 2024 file the couple put 20% down from savings and investments, which also covered closing costs with money left over, on a five-year variable term at 7.00% with a 30-year amortization.

More tools & related services

Have a file like this?

We fund complex mortgages across BC & Alberta. Send us the details and we'll tell you if we can help, honestly.

Contact Us →All case studies