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Alternative or "B" Mortgage Lending
One of the least well known Mortgage Products

Every clients situation is unique, and sometimes life just happens.  The loss of a job, illness, marital breakdown, each of these comes with a unique story, and that's where Alternative or "B" Mortgage Lending shines.  These banks realize that just because someone is down on their luck, or going through a rough time, they should still be able to qualify for a mortgage. 

Criteria of an Alternative or "B" Lending Mortgage

These banks will offer different criteria for qualifying for a mortgage, some examples would be :

  • Extended debt ratios up to 55/55 (compared to a traditional bank at 44/39)  Which means it's easier to qualify based on your income.

  • They will consider different types of income, and will often look at bank statements over 6-12 months rather than pay statements or income tax statements.

  • They will allow us to payout CRA or GST taxes, Property Tax Arrears, Consumer Proposals and even Bankruptcies

  • Driven by stories.  Is your situation hard to show on paper, but there's a good story behind it?  These lenders are listening.

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