Case Study · Residential / Alternative

A Single Parent's Estate-Sale Townhouse: An Alternative Lender at 65% Over 35 Years in Port Coquitlam

Q: Can a single parent qualify for a mortgage on one salary?

This one did, in 2023, with an alternative lender: a two-year average salary of about $48,400 put the debt-service ratios at about 46% and 56%, and the lender placed $344,500, 65% of the townhouse's $530,000 value.

Q: Does child support count as income for a mortgage?

Only part of it could count here, with two children over 16. The lender also counted the child benefit.

Q: Can a working adult child's contribution help you qualify?

In this 2023 file it did: the alternative lender counted $14,400 a year from a working adult child living at home.

Q: Can you buy a home sold privately by an estate?

This client did: a two-bedroom Port Coquitlam townhouse valued at $530,000, sold privately, off the MLS, by the late owner's estate.

Q: What were the terms?

$344,500 on a three-year fixed term at about 6.3% in 2023, with a 35-year amortization. The $182,000 down came from about $305,000 in savings and investments, leaving savings in reserve.

Our client, a divorced parent of three with one employer since 2016, clean credit and about $310,000 in savings and investments, wanted a family home: a two-bedroom Port Coquitlam townhouse valued at $530,000, sold privately, off the MLS, by the late owner's estate.

Closed in 2023 · Published October 18, 2026

Residential
Alternative
Purchase
Single parent
Child support income
Estate sale

Value: $530,000
Mortgage: $344,500
Loan-to-value: 65%
Down payment: $182,000 from savings
Rate in 2023: about 6.3%, three-year fixed

The Situation

The Challenge

One salary, a two-year average of about $48,000, put the ratios at about 46% and 56%, and only part of the child support could count with two children over 16.

The Solution

In 2023 we placed about $340,000 with an alternative lender, 65% of the value, on a three-year fixed term at about 6.3% with a 35-year amortization. The lender also counted the child benefit and about $14,000 a year from a working adult child at home, and about $180,000 down came from savings.

The Outcome

The family have a home of their own, with savings still in reserve.

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Income & debts

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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.

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Suite rent

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

I own other propertiesCheck this if you own any other real estate (owner-occupied, vacation, or rental). Leave unchecked if none.

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

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Contract vs stress-test payment

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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 single parent qualify for a mortgage on one salary?+