From Bank Rejection to Loan Approval: How Milo Helped a Canadian Investor

When I first spoke with our client—a self-employed Canadian investor—his frustration was palpable. He had just been turned down by his bank for a loan to purchase a property in Florida. Despite holding significant wealth, most of it was tied up in unconventional assets, and his inconsistent income as a self-employed individual made it difficult for traditional lenders to assess his financial standing. This was particularly evident when RBC, where he had done banking for years, rejected his loan application.

The property he was interested in was a stunning single-family home in Florida, valued at $3,500,000. This would be his family’s first step into the U.S. real estate market, a property they could eventually call home. However, securing financing for such a purchase was complicated. RBC’s rigid requirements focused primarily on steady, documented income—something our client didn’t fit into due to the nature of his investments and earnings.

That’s when he found Milo. While researching cross-border mortgage solutions, he came across our DSCR (Debt Service Coverage Ratio) loan for foreign nationals. Our program evaluates the property’s ability to generate rental income rather than relying solely on the borrower’s personal income. This approach allowed us to take a closer look at the property’s potential and align it with our client’s needs.

After reviewing his situation, we determined that the rental income from the property would be sufficient to secure the loan. With a 46% Loan-to-Value (LTV) ratio, we could confidently proceed, allowing him to avoid the barriers that had halted him before. By focusing on the property's cash flow, rather than the complexity of his financial profile, we unlocked the solution that RBC couldn’t offer him.

Throughout the process, we communicated closely with him, addressing his concerns and ensuring he understood each step of this alternative lending approach. Having worked at the bank himself, he was well aware of the limitations of traditional financing methods. Our ability to assess his situation with a different lens made all the difference, enabling him to close on his U.S. property.

For this client, Milo wasn’t just a lender; we were the partner who understood the complexity of his financial situation and offered a tailored solution where others could not.

The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.