How We Helped a Family Buy a Home After Their Bank Said No

The Problem: A Denied Loan for a Cannabis Industry Employee

One of the most rewarding parts of my job as a mortgage broker is helping clients who have been turned down elsewhere. Recently, we worked with a young family who had been pre-approved by their local Chase Bank—only to be denied after submitting their full application. The reason? The borrower worked in the cannabis industry.

Cannabis is fully legal in Oregon, Washington, Colorado, and many other states, but because federal laws haven’t kept up, many big banks won’t lend to employees in this field. It doesn’t matter if they earn a W-2 salary, have a steady job history, and a great financial profile—if their paycheck comes from a cannabis company, retail banks often refuse to lend.

The Borrower’s Situation

• A regional sales representative for a legal cannabis company
• W-2 income, steady salary, and a regular pay stub
• A young family with three children looking to buy a home with more space
• Turned down for a mortgage only because of his employer

Finding the Right Solution

When the family came to me, they were discouraged and thought homeownership might not be possible. But since we work with multiple wholesale lenders, I already knew of loan options that could work for them. We:

1. Found a lender that accepts W-2 cannabis industry employees
2. Helped them document their student loan payments and factor in deferred loans
3. Worked with their family members, who gifted them additional down payment funds
4. Explored multiple loan types to find the best option for their income structure

The result? They bought a beautiful country property—a home with room for their family to grow, space for a garden, and a place where their kids could run around freely.

The Bigger Picture

This family’s story is just one example of how federal regulations haven’t kept up with state laws. As mortgage professionals, we work hard to find creative financing solutions for all types of borrowers—including those in emerging industries like cannabis.

If you or someone you know has been told “no” by a retail bank, don’t assume that means you can’t buy a home. Let’s explore your options together.

We make it easy! 

Lauren Hatmaker
Direct: 541-510-8428
Office: 541-972-8620
NMLS 1433297
Lauren@EugeneBrokers.com
www.EugeneMortgageBrokers.com