Alternative Lending
Alternative lending are for those individuals that don't qualify with traditional lenders. Due to the tightening of lending guidelines, especially over the last couple of years, there has been an increase in alternative/private lending.
Certain deals that were approved a number of years ago by "A lenders" (ie banks, credit unions and mono line lenders) are now being declined. As an independent broker I have access to "A lenders" in addition to alternative/private lender for those individuals that don't qualify with "A" lenders.
If you have been declined by your bank/credit union or are concerned about qualifying with an "A lender" due to bruised credit or non-traditional income, simply complete the online application below. I will then process the information to determine your options or alternatively contact me at 604-808-1050 (ext 103 if requested) to discuss in person.
The majority of alternative/private lenders will consider financing up to a maximum of 75-80% loan to value depending on the overall application (ie credit score, type of property). There are a few lenders that will consider financing up to 85% loan to value.
Loan to value is a comparison between the value of your loan to the value of your property. Borrowers who have a lower LTV ratio are considered less risky to lenders because they have more equity in their homes and therefore are less likely to default on their mortgage. Even if the client defaults on the mortgage the lender has a greater chance of selling the home in foreclosure without a loss.
Certain deals that were approved a number of years ago by "A lenders" (ie banks, credit unions and mono line lenders) are now being declined. As an independent broker I have access to "A lenders" in addition to alternative/private lender for those individuals that don't qualify with "A" lenders.
If you have been declined by your bank/credit union or are concerned about qualifying with an "A lender" due to bruised credit or non-traditional income, simply complete the online application below. I will then process the information to determine your options or alternatively contact me at 604-808-1050 (ext 103 if requested) to discuss in person.
The majority of alternative/private lenders will consider financing up to a maximum of 75-80% loan to value depending on the overall application (ie credit score, type of property). There are a few lenders that will consider financing up to 85% loan to value.
Loan to value is a comparison between the value of your loan to the value of your property. Borrowers who have a lower LTV ratio are considered less risky to lenders because they have more equity in their homes and therefore are less likely to default on their mortgage. Even if the client defaults on the mortgage the lender has a greater chance of selling the home in foreclosure without a loss.
