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A B-lender mortgage is usually a 1-3 year bridge — we use that time to repair your file, then graduate you to prime rates. Minimum 20% down/equity typically required.
MCAN, Equitable, Home Trust, Haventree, and more — matched to your file.
A short-term bridge designed to rebuild your file and return to prime rates.
We compare across lenders to find your best fit — not just one option.
What are typical B-lender rates?
Rates are set case-by-case based on credit, equity, and income, and are generally higher than bank rates. We'll source the most competitive current rate for your situation.
How long do I need to stay with a B-lender?
Most clients use a B-lender as a 1-3 year bridge while rebuilding credit or income documentation, then move back to a prime lender at renewal.
What down payment or equity is required?
Most alternative lenders require a minimum of 20% down payment or existing equity in your home.
Will using a B-lender hurt my credit?
No — the mortgage itself is reported like any other, and consistent on-time payments can help rebuild your credit profile over time.
What fees are involved with alternative lending?
Lender fees of roughly 1-2% of the mortgage amount are common, in addition to standard legal and appraisal costs.
Can I go back to a bank later?
Yes — that's the goal. As your credit, income documentation, or equity position improves, we help transition you back to a traditional lender at renewal.
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In Ontario, most traditional lenders require a minimum credit score of 600 for an insured mortgage. For best conventional rates, a score of 680 or higher is recommended.
If your credit score is between 500 and 600, alternative B-lenders and private mortgage lenders may still approve you — though at a higher rate. My Future Mortgage works with a wide network of alternative lenders across Ontario.
Canadian federal rules set minimum down payments at 5% for homes up to $500,000, 10% on the portion between $500,000 and $1 million, and 20% for homes over $1 million.
First-time home buyers can access the First Home Savings Account (FHSA) and the Home Buyers' Plan (HBP) to boost their down payment.
Yes. While traditional A-lenders decline scores under 600, B-lenders and private mortgage lenders offer refinancing for credit-challenged borrowers. Equity is the most important factor.
My Future Mortgage specializes in connecting Ontario homeowners with the right lender for their unique credit situation.
If you switch lenders at renewal, you must re-qualify at the stress test rate (contract rate + 2% or 5.25%, whichever is higher). Staying with your current lender typically doesn't require a stress test.
My Future Mortgage pre-qualifies you with partner lenders before your renewal date so you know exactly what you qualify for.