Closed in 2023 · Published October 17, 2026
- Residential
- Prime lender
- Purchase
- Family purchase
- Multi-generational
- Co-ownership
- Purchase price
- about $2.15 million
- Mortgage
- about $1.2 million
- Down payment
- about $950,000
- Loan-to-value
- 56%
- Owners on the application
- Four
The Situation
A married couple with two young children and one partner's parents, who are very close, found a seven-bedroom home on almost 1.5 acres in Maple Ridge priced at about $2.15 million. Each household owned a Maple Ridge home with a mortgage at a major bank.
The Challenge
The down payment of about $950,000 depended on selling both homes before completion, and the new mortgage had to be qualified on four incomes from four separate careers.
The Solution
In 2023 we arranged a mortgage of about $1.2 million with a major Canadian bank, 56% of the price, on a three-year fixed term at about 4.9% with a 30-year amortization. All four owners went on the application, each with long employment and credit scores in the 740s and 770s, which put the debt-service ratios under 28%. Subjects came off in April against the planned sales, and the equity from both homes funded the down payment.
The Outcome
Two households became one, on a large acreage, with a payment four incomes share comfortably and a mortgage of about half the home's value.