Alternative Lending
Alternative & Private Mortgages
When the Big Banks say no, we look for common-sense solutions.
Traditional banks have strict "boxes" that borrowers must fit into. If you are self-employed, have bruised credit, or have non-traditional income, you might be declined despite having significant equity and the ability to pay. This is where Alternative (B-Lending) and Private Mortgages come in.
B-Lenders vs. Private Lenders
B-Lenders are often regulated financial institutions that offer different pricing structures than prime but have much more flexible income and credit requirements. Private lenders are typically individuals or Investment Corporations (MICs) that lend based primarily on the equity in the property rather than your credit score.
The Business Owner's Bridge
A self-employed contractor in Prince Albert needed $100k for business expansion but was declined by his bank due to his tax returns not showing full cash flow.
The Result
We secured a 1-year private second mortgage, allowing him to grow his business. Within 12 months, his increased revenue allowed us to move him back to a prime bank solution.