ALTERNATIVE LENDERS BC & VANCOUVER
Alternative lenders are used when a home buyer or home owner has significant home equity usually 25% or more. Our lenders do not have the same lending guidelines for income qualification or credit qualification as banks. More often lenders take a common sense approach to lending and can satisfy themselves with stated income and a variety of credit tiers.
Funds through our Alternative Lenders $10,000 to $2,500,000 & more if required.
Alternative Lenders are B-Lender or Sub Prime lender that are usually a branch of a bank and come with slightly higher rates than discounted mortgage rates and in some cases a small premium.
Other Option Alternative Lenders
The other option to those branch level alternative lenders are a pure equity lenders or private mortgage lender. Alternative loans have a variety of rates and costs but can be a great way to improve damaged credit or bridge yourselves between large income shortages.
Investment Corporation BC & AB
INVESTMENT CORPORATION are an investment lending company designed specifically for First & Second Mortgages. These Corporations are governed by the tax regulations of Section 130.1 of the Income Tax Act of Canada. They are eligible for RRSPs, RRIFs, DPSPs, or RESPs investing. Owning shares in a Investment Corporation enables you to invest in a diversified and secured pool of Private Mortgages.
Individual Private Mortgage Lenders BC & AB
Private lenders in BC & Alberta can be any individuals who have an understanding of mortgages, real estate and sufficient funds to lend. Generally Private Lenders are business people or retirees looking to yield a higher rate of return on their savings. These lenders either have un-leveraged funds, RRSP’s funds or borrow from a secured LOC from their home and lend out the equity of their assets to get a higher Private Mortgage Rate.