Alternate Lending

Alternative financing is an in-vogue hybrid of mortgage lending in Canada. It is institutional lending, aimed at clients who don’t fit standard lending requirements.

Due to their credit scores falling below the minimum standards, borrowers may not be eligible for traditional loans. Furthermore, even someone with excellent credit might not be eligible for conventional lending. The latter may result from high debt service ratios or from being self-employed and unable to provide proof of income.

More borrowers with excellent credit are resorting to B mortgages or alternative finance. Additionally, B lenders have successfully lowered their pricing to cater to these clients with excellent credit scores.

The duration for such type of mortgage is substantially shorter, which is another benefit of B lending mortgages. Commonly, two or three years. This makes it possible for a borrower to avoid being locked in for any longer than is necessary for credit development and mainstream qualification.

If you are kin to learn more about alternative lending get in touch with us. We are available to assist you whenever you require our assistance.