Helping a Single Mom Become a Homeowner Without Touching Her Son's Education Fund
"A real story about finding a lender who counted every dollar of a single income."
🎓 The Challenge
Our client, a single mother, wanted to buy a home for herself and her son — but her income alone wasn't enough by traditional lending standards. She had one non-negotiable: her son's university fund was off the table.
🔘Single Income Household 🔘 Spousal Support Included 🔘 Non-Negotiable: Education Fund
However, most lenders calculated her qualifying income too narrowly, without factoring in spousal support she reliably received.
Why?
"Single income insufficient under standard calculations." – Initial lender review
📉 This is a common roadblock for:
- Single parents qualifying on one income
- Anyone receiving spousal or child support that isn't being fully counted
- Buyers with a fund or asset they've decided is untouchable
And it shows why the right lender — not just any lender — makes the difference.
Found a lender willing to count her full income plus spousal support, rather than her salary alone.
Negotiated an exception to standard qualifying ratios based on her complete financial picture.
Structured the mortgage on a shorter term to keep her options open as her income evolves.
Her son’s education fund was never part of the conversation — because it didn’t need to be.
💡 What You Can Learn from This
Spousal and child support can — and should — count toward qualifying income.
Standard qualifying ratios aren’t the only option alternative lenders can offer exceptions.
You don’t have to give up a savings goal to become a homeowner.
📞 Call to Action
Facing pushback due to your job or income style?
Let us help tell your story — and find the right mortgage solution for you.
📧 paul.davidescu@mortgagepal.ca