Question 1

What is the minimum down payment required?

Accepted Answer

For homes under $500,000, the minimum down payment is 5%. For homes between $500,000-$999,999, it's 5% on the first $500,000 and 10% on the remaining amount. For homes $1 million and over, the minimum is 20%.

Question 2

How long does the mortgage approval process take?

Accepted Answer

Traditional bank approvals typically take 2-4 weeks. Our private lending solutions can often provide approval in 24-48 hours, with funding in as little as 5 business days.

Question 3

What documents do I need for a mortgage application?

Accepted Answer

Standard documents include income verification (pay stubs, T4s, NOAs), employment letter, bank statements, identification, and property information. Self-employed applicants may need additional business documentation.

Question 4

What is the stress test and how does it affect my mortgage?

Accepted Answer

The stress test requires qualifying at a rate that's 2% higher than your contract rate or 5.25%, whichever is higher. This ensures you can handle rate increases. Private lenders may have more flexible stress test requirements.

Question 5

Can I get a mortgage with bad credit?

Accepted Answer

Yes! We specialize in helping clients with credit challenges through private lending solutions. We focus on equity, income capacity, and exit strategy rather than just credit scores.

Question 6

What's the difference between pre-approval and pre-qualification?

Accepted Answer

Pre-qualification is an estimate based on basic information. Pre-approval involves document verification and credit check, giving you a firm commitment from the lender.

Question 7

What is private lending?

Accepted Answer

Private lending involves borrowing from individual investors or private companies rather than traditional banks. It offers more flexibility in qualification criteria and faster approval times.

Question 8

When should I consider private lending?

Accepted Answer

Private lending is ideal when you need fast financing, have been declined by banks, are self-employed with complex income, need bridge financing, or have unique property situations.

Question 9

What are typical private lending rates?

Accepted Answer

Private lending rates typically range from 5.89% for bridge 1st mortgages to 9.24% for bridge 2nd mortgages. Construction 1st mortgages are 9.99%–10.99% and construction 2nd mortgages are 10.99%–12.99%. Rates as of April 1, 2026. Subject to OAC and qualification.

Question 10

How much can I borrow with a private mortgage?

Accepted Answer

Private lenders typically offer up to 80% LTV for first mortgages and up to 70% combined LTV for second mortgages, depending on property type and borrower qualifications.

Question 11

Are there prepayment penalties with private mortgages?

Accepted Answer

Most of our private mortgage products have no prepayment penalties, giving you the flexibility to pay out early without additional costs.

Question 12

What types of properties do private lenders finance?

Accepted Answer

Private lenders can finance residential, commercial, multi-unit, and unique properties that banks might decline, including properties needing renovation or in rural areas.

Question 13

Can I get a mortgage if I'm self-employed?

Accepted Answer

Yes! We specialize in self-employed mortgages using alternative documentation methods, including business cashflow analysis rather than traditional tax documents.

Question 14

What income documentation is needed for self-employed applicants?

Accepted Answer

We can use bank statements, business financial statements, contracts, invoices, and cashflow analysis. Tax returns may be used but are not always required.

Question 15

How much can I borrow as a self-employed borrower?

Accepted Answer

Self-employed borrowers can typically access up to 75% LTV with our institutional financing programs, based on verified business cashflow and creditworthiness.

Question 16

What if my declared income doesn't reflect my actual income?

Accepted Answer

We understand that self-employed individuals often write off business expenses. Our bank statement programs analyze actual cash flow rather than declared income.

Question 17

How long do I need to be self-employed to qualify?

Accepted Answer

Typically, you need at least 2 years of self-employment history, though some programs may accept less with strong financial position and industry experience.

Question 18

Do you offer self-employed construction loans?

Accepted Answer

Yes, we provide construction and renovation financing for self-employed contractors and developers with flexible documentation requirements.

Question 19

What mortgage options are available for seniors?

Accepted Answer

We offer specialized solutions including reverse mortgages, equity release programs, and flexible payment options with terms from 1-5 years and up to 50% LTV.

Question 20

Do I need to make monthly payments on a senior mortgage?

Accepted Answer

Many of our senior mortgage products can be structured without monthly payments, with interest capitalized and paid at maturity or when the property is sold.

Question 21

How much equity can I access as a senior?

Accepted Answer

Seniors can typically access up to 50% of their property value, depending on age, property type, and specific program requirements.

Question 22

What age do I need to be to qualify for senior mortgage options?

Accepted Answer

Our senior mortgage programs are typically available for borrowers aged 60+, with some programs accepting applications from age 55+ depending on the product.

Question 23

Can I use pension income to qualify for a mortgage?

Accepted Answer

Yes! Pension income, CPP, OAS, and RRIF withdrawals are all acceptable income sources for our senior mortgage programs.

Question 24

What happens to the mortgage when I pass away?

Accepted Answer

The mortgage becomes due, and your estate can either pay it off or sell the property. Any remaining equity belongs to your beneficiaries.

Question 25

Do you finance commercial properties?

Accepted Answer

Yes, we provide financing for office buildings, retail spaces, multi-unit residential, and mixed-use properties with terms up to 5 years.

Question 26

What's the maximum LTV for commercial properties?

Accepted Answer

Commercial properties typically qualify for up to 75% LTV, depending on property type, location, and borrower strength.

Question 27

How do you evaluate commercial property income?

Accepted Answer

We analyze rental income, vacancy rates, operating expenses, and market comparables to determine net operating income and debt service coverage.

Question 28

Do you offer CMHC MLI Select financing?

Accepted Answer

Yes, we provide consultation and bridge financing to help you qualify for CMHC MLI Select programs for multi-unit residential properties.

Question 29

What about fix-and-flip properties?

Accepted Answer

We offer short-term bridge financing for renovation projects with interest-only payments and flexible exit strategies.

Question 30

Can I finance multiple investment properties?

Accepted Answer

Yes, we can help build your investment portfolio with financing solutions for multiple properties and cross-collateralization options.

Question 31

What is bridge financing?

Accepted Answer

Bridge financing is short-term funding (typically 6-24 months) that helps you purchase a new property before selling your current one, or fund renovations and developments.

Question 32

How quickly can bridge financing be approved?

Accepted Answer

Bridge financing can often be approved within 24-48 hours and funded within 5-10 business days, making it ideal for time-sensitive transactions.

Question 33

What are the interest rates for bridge loans?

Accepted Answer

Bridge loan rates typically range from 8-15% depending on LTV, property type, and borrower profile. Interest-only payments are common.

Question 34

Can I use bridge financing for renovations?

Accepted Answer

Yes, renovation bridge loans provide funds for major home improvements with progress draws as work is completed.

Question 35

What's the maximum term for bridge financing?

Accepted Answer

Bridge loans typically range from 6-24 months, with the option to extend if needed while arranging permanent financing.

Question 36

Do I need to qualify based on both properties?

Accepted Answer

For purchase bridge loans, we consider the equity in your current property and the new property's value, focusing on exit strategy rather than just income.

Question 37

How are your rates determined?

Accepted Answer

Rates depend on loan-to-value ratio, credit score, property type, term length, and borrower profile. We always strive to offer the most competitive rates available.

Question 38

What fees should I expect?

Accepted Answer

Typical fees include appraisal ($300-800), legal fees ($1,000-2,500), lender fees (1-2% of loan amount), and broker fees. We're transparent about all costs upfront.

Question 39

Do you charge application fees?

Accepted Answer

No, we don't charge application fees for our mortgage services. You only pay when we successfully arrange your financing.

Question 40

Can rates change between approval and closing?

Accepted Answer

Rate holds typically last 90-120 days from approval. We'll discuss rate protection options during the application process.

Question 41

What happens if I'm declined by multiple lenders?

Accepted Answer

We have access to over 50 lenders including private funds. If traditional options don't work, we'll explore alternative solutions and explain all available options.

Question 42

How do I know which mortgage product is right for me?

Accepted Answer

Our mortgage professionals conduct a comprehensive needs analysis considering your financial goals, timeline, and circumstances to recommend the best solution.

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