When the bank says no, you may still have options.

ALTERNATIVE MORTGAGE LENDING

Getting turned down by a bank doesn’t necessarily mean you can’t get a mortgage. Sometimes your situation simply doesn’t fit neatly inside traditional lending guidelines.

Whether you’re self-employed, rebuilding your credit, coming out of a consumer proposal, carrying more debt than you’d like, or dealing with an unusual income or property situation, there may be another way forward.

WHAT IS ALTERNATIVE MORTGAGE LENDING?

A different path to the same goal.

Alternative lenders look at mortgage applications differently than traditional banks. They may have more flexibility around credit, income, debt levels, property type or other circumstances.

The trade-off is that rates and fees can be higher, which is why I look at the whole picture - not just whether I can get you approved.

Sometimes an alternative mortgage is the right long-term solution. Other times, it’s a bridge that gives you time to rebuild, restructure or improve your situation so we can move you to traditional lending later.

Helping clients across Alberta, the Yukon & Canada find solutions when traditional lending isn't the right fit.

MORE THAN ONE WAY TO GET HOME

Could alternative lending be right for you?

Self-Employed

Your income doesn’t look as straightforward on paper as it does in real life.

Credit Challenges

Consumer Proposal or Bankruptcy

Unique Property or Situation

Unique Income

Debt Consolidation

Past credit issues are making traditional bank approval difficult.

You’re rebuilding financially and need a mortgage strategy for where you are now.

The property, or your circumstances, doesn’t fit neatly into a bank’s standard lending box.

Commission, contract, seasonal or other income doesn’t fit traditional guidelines.

High monthly debt payments are putting pressure on your cash flow.

One decline doesn't define your options.

The goal isn't just an approval

A mortgage should solve a problem - not create a new one.

Alternative lending can be incredibly useful, but it should come with a plan.

Before recommending an alternative mortgage, I’ll help you understand the costs, the trade-offs and what the next step could look like.

If alternative lending is being used as a bridge, we’ll talk about what needs to happen during that time; whether that’s rebuilding credit, reducing debt, establishing income or simply allowing more time to pass.

The goal is to put you in a better financial position, not just get you through the door today.

See if I Qualify

Let's Talk About Your Options

QUESTIONS ABOUT ALTERNATIVE LENDING

A few things you might be wondering...

Is an alternative mortgage the same as a private mortgage?
No. Private lending is one type of alternative lending, but there are also alternative lenders, often called B lenders, with lending programs designed for borrowers who don’t fit traditional bank guidelines.

Will an alternative mortgage cost more?
Usually. Alternative mortgages can have higher interest rates and may include lender or broker fees. I’ll explain the costs before you make a decision so you can decide whether the benefit makes sense for your situation.

Do I have to stay with an alternative lender forever?
Not necessarily. In many cases, alternative lending is used as a bridge while we work toward qualifying with a traditional lender. The important part is having that exit strategy from the beginning.

Should I apply if I’ve already been turned down by my bank?
Absolutely worth a conversation. A decline from one lender doesn’t tell us what every lender will do. Different lenders look at income, credit, debt and property differently.