Canadian Mortgage Advisor
8-8 Strathearn Avenue
Greater Toronto Area , ON , L6T 4L9 Canada
1-416-930-1225

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Helping GTA Homeowners find a mortgage that is right for them
Call Us: 1-416-930-1225

Other sources of money

B – Side of the lenders


Alternative lending –

Due to may unfortunate situations some borrowers miss the main stream lenders qualifying marks by only a few points. But that is not a serious situation as there are alternative products available for those who need them. Those products are generally referred to as Alt-A products.

Borrowers who have serious credit issues or past delinquency they do not qualify under Alt – A lending solutions. For those with bad credits the products are often known as B mortgages. We see these sources every day without even realizing it. As an example – You want to buy an electronic but you do not have the money. You go to your father and ask for $200. He gives you the money on a condition that – you will return the money after 10 days and mow the lawn for two days. That was a quick alternative source of money other than the regular banks.

Most of the banks have sister organizations which deal with B side lending but the reason is different there. Usually when a client does not qualify for money under regular mortgage underwriting guidelines then the client gets referred to a special guideline. That is called B side. The guidelines are a bit relaxed but the interest rates are high. There is a difference between this and a second mortgage. This is still a first mortgage we are talking about and the rate is higher. This is because the client has more risk.


Some examples of B lenders


  • Pay-day lenders
  • Relatives
  • Peers
  • Privet lenders
  • Banks
  • Different funds
  • Many types of home equity loans

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About Us

Sudip Adhikari.
Agent License #M10001082
Broker Mortgage Diligent -
Head Office -1305 Matheson Blvd East, Mississauga, ON L4W 1R1
FSCO #10252 O.A.C , E&OE

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