As independent mortgage advisors we have access to a variety of options for people with equity in real estate, high net worth or non-traditional proof of income. We also have alternative and private lenders for those clients who need creative solutions.
For those with lower taxable income and varying assets there are specialty programs for those who can’t qualify under standard financing rules including:
Business owners (sole proprietor or incorporated)
Property owners with a portfolio of real estate
People with high net worth person and some liquid assets but lower taxable income
We have helped clients facing life altering events such as serious illness or injury in their family, separation/divorce, loss of employment among others. During this time there may be the need for funds on a short-term basis to avoid default on your mortgage or legal action against your home till you can get back on your feet.
Other situations where alternative financing may be needed include:
- Pay-out of high-interest debt
- Bad or bruised credit repair
- A short term need for funds between the sale and purchase of a property
- Self-employed without traditional proof of income
- Investing in real estate
This kind of financing is a way to access funds based on equity in your property. This is a short term solution that requires the expertise and guidance from a mortgage advisor with a crafted exit strategy for the lender and the borrower.
Always consult with an experienced mortgage advisor to help you make an informed decision.
This kind of financing allows you to:
- Consolidate your debt load into one lower payment
- Increase your personal cash flow
- Improve your credit rating
- Lower your interest rates compared to higher credit card rates
- Access funds to purchase a rental property
- Pay off Canada Revenue and avoid high penalties or a charge against the title of your home