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Alternative Mortgages

The alternative lending sector is becoming very important to Canadians because of recent mortgage rule changes implemented by the government, especially the new Stress Test (formally called the B-20). These changes, along with the conditions of the marketplace, have made it more difficult for consumers to qualify for a conventional mortgage with traditional lenders such as banks or credit unions.

With our access to alternative lenders, we are able to fund mortgage solutions for:

  • Bad or Damaged Credit
  • Debt Consolidation
  • Unverifiable Income
  • Stated Income
  • Outstanding tax debts
  • Foreclosure Prevention
  • Equity Take Out
  • Mortgage Refinancing
  • Mortgage Renewals
  • New to Canada

These alternative lenders are much more flexible when it comes to items like credit, verifying income, and equity in your home. These products will come at slightly higher interest rates and sometimes they come with additional cost. However, they are intended to be used as a short-term solution with terms typically ranging from 1-3 years. During that time frame, there are many actions that can be taken to help prepare you to get back on what is called the “A-side” lending.