Turned down by your bank? At Everything Mortgages, we work with the complete spectrum of alternative mortgage lenders in Ontario, including B lenders, private lenders, Mortgage Investment Corporations (MICs), and credit unions, to find financing that fits your actual situation.
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About
The Challenge
When to Use
Exit Strategy
Services Offered
Why Choose Us
How to Get Started
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Canada’s mortgage market runs on two tracks. The first is the traditional bank path, built for borrowers with T4 income, strong credit, and straightforward financial profiles. The second is the alternative lending track, built for everyone else.
Alternative mortgage lenders in Ontario include B lenders, private lenders, Mortgage Investment Corporations (MICs), and credit unions. Each operates with more flexible underwriting criteria than a chartered bank, which means they can approve files that a bank would decline, such as self-employed borrowers, those with bruised credit, recent newcomers to Canada, and clients whose debt ratios sit just outside prime qualification.
At Everything Mortgages, we have been placing clients with the right alternative lenders since 2012. We know which lenders suit which profiles, and we structure every application to give it the strongest possible chance of approval.
The Challenge
The Alternative Lending Challenge
Banks approve mortgages on a pass/fail basis. If your income is non-traditional, your credit score has taken a hit, or your debt ratios exceed their thresholds, the file gets declined regardless of your actual ability to repay. That rigid process leaves out a significant portion of creditworthy Canadians.
Alternative mortgage lenders assess applications differently. A B lender will look at your overall financial picture rather than one disqualifying metric. A private lender will base approval primarily on property value and equity. A MIC may approve a self-employed borrower who cannot produce two years of clean T4s. The common thread across all of them is flexibility that the major banks are structurally unable to offer.
When to Use
When Alternative Mortgage Lenders Make Sense
Most borrowers who come to us for alternative mortgage solutions fall into one of these situations: they are self-employed and cannot show two years of strong T4 income; they have a bruised credit history from a past financial hardship; they carry a debt load that pushes their ratios above prime thresholds; or they need to close on a property quickly and cannot wait on a bank’s timeline.
Alternative lending is also frequently used as a planned short-term strategy. A borrower takes a one or two-year term with a B lender or MIC, uses that period to rebuild credit and document income, then qualifies for an A lender rate at renewal. Our team maps that transition path from day one so the alternative lender serves as a bridge, not a permanent ceiling.
What Alternative Mortgages Cost
Rates and fees vary by lender type and borrower risk profile. B lender rates in Ontario generally run .5 to 1% above comparable A lender rates. MIC and private mortgage rates sit higher still, and private mortgages often carry lender fees of 1 to 3% of the loan amount on top of standard broker fees. We discuss all costs openly before any application goes forward.
Exit Strategy
Transitioning Back to an A Lender
Every alternative mortgage client we work with gets a clear answer to one question upfront: what does the path back to a prime lender look like?
For credit issues, consistent on-time payments and reduced revolving balances over 12 to 24 months typically move a score into qualifying range. For income documentation, two years of filed tax returns showing strong net income usually satisfies A lender requirements. For borrowers carrying too much debt, using a private mortgage or B lender to consolidate and reset their ratios can open the door to prime qualification at the next renewal.
We track these timelines with every client and begin positioning files for A lender renewal well before the term expires. The alternative lender is the starting point, not the destination.
Services Offered
Who We Help
Our team works with borrowers across the full range of situations that alternative mortgage lenders are built for. Self-employed individuals who cannot verify income through traditional documentation, homeowners and buyers with past credit challenges who need a regulated path to approval, and clients looking to access home equity for debt consolidation or renovations are the core of what we do every day.
We also work with borrowers who have been turned down by their bank and are not sure where to turn next. A decline from an A lender does not close the door. It opens a conversation about which alternative lender fits the file, what the approval will cost, and how to structure the term so the next renewal puts you back in prime territory.
Why Choose Us
Our staff is made up of highly skilled mortgage professionals with a focus on alternative mortgages. We are adept at negotiating the difficulties involved in confirming income and guaranteeing a seamless and effective mortgage procedure. You can feel secure knowing that your particular financial situation is handled with accuracy and care thanks to our in-depth knowledge and experience.
Strong client connections are our first priority at Everything Mortgages. Our committed mortgage brokers take the time to learn about your individual objectives and financial dreams. Using a customized approach, we adjust our services to your particular requirements and offer outstanding assistance all the way through the mortgage procedure.
We have access to a large range of lenders and mortgage packages because we are a reputable mortgage brokerage. With the help of our wide network, we can investigate several choices and find the ideal mortgage program to suit your income from self-employment and financial situation. Our extensive network guarantees that you will be offered the best terms and rates on the market.
How to Get Started
1
Complete our online mortgage application with your basic financial details, income sources, and the property you are purchasing or refinancing. It takes a few minutes and gives us what we need to assess your options. We do not pull your credit on the initial review unless you specify.
2
Once we review your application, we will send you a specific list of what we need. For most alternative mortgage files this includes recent bank statements and identification. For B lender files, the primary requirement is 12 to 24 months of business bank statements, tax documents are not required. We keep the request specific to your situation.
3
One of our mortgage brokers will walk through your file, match it against the right lenders in our network, and present your options with full transparency on rates, fees, and next steps. No obligation, no cost.
Amy Asadullah
Toronto, Ontario
A++++.
I had the pleasure of working with Manzeel at Everything Mortgages. After dealing with 2 other brokers, Manzeel made this purchase happen for me and my family. He has been professional, approachable and sincere. I couldn’t be happier and highly recommend him.
Hovig Tchaderian
Toronto, Ontario
I was extremely pleased with the service I received!! The communication from start to finish could not have been any better.
I would recommend the whole team for anyone that’s looking for a mortgage!!
Thanks again!
Sarah Paul
Toronto, Ontario
My experience with Everything Mortgages was excellent. My mortgage broker was very knowledgeable, professional, and personable. Also, the process was smooth and uncomplicated. I would recommend Everything Mortgages for any type of buyer, new or seasoned, residential or commercial.
Varun Kalia
Canada, Toronto
Manzeel and his team at Everything Mortgages are fantastic! Buying a house can be quite an ordeal but these guys made it stress free and painless. Not only did they take the time to answer all the questions I had but they were also respectful and diligent in keeping me informed through out the closing process. They were mindful of my time and worked around my schedule. It was an excellent experience from end to end. I highly recommend them for anyone in need of a mortgage. Thanks Manzeel and team!
Rahee G
Canada, Toronto
My experience with Everything Mortgages was excellent. Manzeel and his team are best in class. They were very professional and really simplified the process for me. I would recommend Everything Mortgages for everyone!
Melissa Emond
Toronto, Ontario
I’ve personally dealt with Everything Mortgages for years now and they have done many transactions for me (purchases and refinances). They are competitive, tech savvy, and trustworthy. I highly recommend them for all your mortgages needs.
If you are self-employed, have non-traditional income, or carry a bruised credit history, an alternative mortgage lender in Ontario may be the right fit. Rates are less favourable than A lenders, but for many borrowers these products offer the only viable path to approval. The key is mapping a clear plan to transition back to a prime lender at renewal.
B lenders use flexible underwriting guidelines. MICs pool investor capital for borrowers outside regulated lender criteria. Private mortgage lenders approve based primarily on property equity rather than income. Each product serves a different risk profile with different rates, fees, and terms.
For borrowers with non-traditional income or credit challenges, it frequently does, particularly when the alternative is continued renting or missing a purchase opportunity. Alternative lenders in Ontario also have faster approval timelines and more accommodating qualifying criteria than chartered banks.
B lender rates generally run .5 to 1% above A lender rates. MIC rates sit higher depending on credit profile and loan-to-value ratio. Private mortgage rates are the highest in the spectrum and typically include additional lender fees. Working through a broker gives you the most accurate comparison across all options.
Most require 10 to 20% depending on lender type and financial profile. B lenders typically lend up to 80% loan-to-value. Private lenders may go higher depending on the property’s location and condition. The stronger your equity position, the more options you have.
They are higher than conventional loans and need to be budgeted from the start. Private mortgage lenders typically charge lender fees of 1 to 3% of the loan amount on top of standard broker fees. At Everything Mortgages, we present all costs in full before any application goes forward.
Most lenders require recent bank statements, tax returns or notices of assessment, government-issued identification, and evidence of your income source. Self-employed borrowers may also need business financials or an accountant’s letter. We provide every client with a specific document list based on their file.
For most borrowers it is a short-term solution with a clear exit strategy. A one to two year term with a B lender or MIC is used to rebuild credit, document income, and reduce debt ratios so the next renewal qualifies at an A lender rate. Sustainability depends on having that plan in place from day one.
Work with a broker who has active relationships across multiple lender types. At Everything Mortgages, we access B lenders, MICs, and private lenders and present options side by side with full transparency on rates, fees, and terms.
A consumer proposal doesn't have to keep you out of the housing market. We work with lenders across Toronto and the GTA who look past the R7 rating on your credit bureau, whether you're still making payments or already discharged. If the bank says no, we say yes.
A discharge doesn't have to mean years on the sidelines. We place GTA borrowers with the right lender at each stage of recovery, from private financing the week after discharge to bank-rate approvals once credit is rebuilt.
If the CRA has registered a lien on your home, or your property taxes have fallen behind, refinancing can pay the debt in full at closing. We connect GTA homeowners with lenders who look at the equity in your home first and the lien second.
Private mortgage lenders in Toronto approve applications that banks and B lenders decline. Approval is based primarily on property equity and loan-to-value ratio rather than credit score or income documentation. At Everything Mortgages, we connect borrowers with private mortgage lenders across Toronto and Ontario, structure the application to present the file in the strongest light, and manage the process through to funding.
A second mortgage in Toronto lets you access your home equity without breaking your existing first mortgage or triggering a prepayment penalty. It sits behind your first mortgage on title and advances funds as a lump sum at closing. At Everything Mortgages, we place second mortgages for Toronto and GTA homeowners with strong credit and those with bruised credit, accessing B lenders, private lenders, and MICs to find the right fit for each file.