Three distinct different types of lenders service the mortgage market in Canada, and alternative lenders are the fasting growing segment going. What exactly is an “alternative lender” and how do you determine which lender is right for your situation?
Good Question! Check out this AskRoss video to learn the difference.
[0:50] Ross reveals how the stress test factors into which lender type you may need to secure a mortgage
[1:00] discover the magic number that moves you out of the A-lender range, as well as…
[1:15] the higher ratio percentages that might fly with an alternative lender
Want to dive even deeper into the truth about alternative lenders? Check out this blog which explains everything. Also it’s always a good time to make sure your credit report is in tip-top shape as well.