
Mortgage Rates vary from B lender to B lender
B Lender Mortgage Rates BC for a 1 year fixed rates can start as low as major banks 5 year fixed rate. Keep in mind B Lenders do charge a lender fee plus you are responsible for all legal & appraisal costs. There may be additional costs so call for a complete review of your situation.
Why Use B Lender Mortgages
B Lender mortgages are you next best option if your bank has turned you down due to lower than average credit score or income issues.
What do B Lenders Mortgages do?
B Lender Mortgages are ideal for:
- Self employed B Lenders mortgages have higher debt servicing ratios than banks
- New Immigrants to Canada who do not have established credit history yet
- High home equity but income does not support TDS & GDS ratios for the big banks
- Lower than average credit scores.
- Previous bankruptcy 1 day discharged
- Payout consumer proposals, income tax arrears, property taxes
Best B Lender
“Who is the best B Lender” being a question we get all the time. The answer is not as simple as rate. Each lender has slight differences and choosing is best lender & terms should be left up to your mortgage broker.
Who are B Lenders?
Some of the major B Lenders in BC are:
- Home Trust
- MCap
- Optimum
- Peoples Trust
- Xceed Mortgage Corp
- Equitable Bank
- Bridgewater Bank
As well as alt products through some smaller credit unions & trust companies
Rates vary from B lender to B lender
B Lender 1 year fixed rates can start as low as major banks 5 year fixed rate. Keep in mind B Lenders do charge a lender fee plus you are responsible for all legal & appraisal costs.
Best B Lender
Who is the best B Lender being a question we get all the time. The answer is not as simple as rate. Each lender has slight differences and choosing is best lender & terms should be left up to your mortgage broker.
What cities do B Lender Mortgages go to In BC?
B Lender Mortgages lend typically in major centers in BC.
- Metro Vancouver
- Major Cities in the Okanagan
- Major Cities on Vancouver Island
B Lender turned you down. What Now?
If you do not qualify under a B Lender mortgage your next choice is a Private Mortgage lender. Now if you were looking to refinance your current mortgage and you are not at the end of your term a second mortgage may be a more cost-effective options.