You have NO IDEA, of how the bank works or what the banker thinks. If you lied to me on your application, your loan will be declined no matter what who you are or what you own or your past record. That was the first thing I learned when I was a loans office in training.
I took an application from a long-time client, with an excellent payment record, good equity in his home and a high paying job. But he lied to me. He didn't tell me there was a 2nd mortgage on his house. When confronted, he said it was a loan his co-signed for his mother who lived with them.
I didn't have my own loan limit at the time - I was in training. So I took the app to my boss and recommended we make the loan. He refused. He said if I couldn't trust this man to tell me the truth when he asked for $10,000, I couldn't trust him to pay me back, and he declined the loan. Over the next few weeks, I got a half dozen calls from various lenders, asking for a loan rating. Another bank gave him the money. I met the manager at our mutual client's bankruptcy hearing about 6 months later. My loan was fully secured and I lost little.
In my 4 years as a bank manager, I had exactly 3 people lie to me on applications. This idea that "everybody lies" to their bank manager is bullshit. One of my friends said she slept well at night because her accountant was the most honest person she knew and he would never let her do anything that dishonest and or get into trouble with Rev Canada.
One very successful businessman told me he lives by the rule that you never lie to your banker, your lawyer, or your priest, and you'll get on well in life. He started with nothing, and retired a multi millionaire.
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