Products

B lender

An alternative ("alt-A") lender that prices higher than A lenders but flexes on credit history, income documentation, property condition, or self-employed earnings. Examples include the alternative-lending programs of Equitable Bank and Home Trust.

B lenders exist for files that are strong in some ways but don't tick every A-lender box: a business owner who writes income down for taxes, someone rebuilding credit, or a buyer with a larger but harder-to-document down payment. They typically charge a rate premium plus a lender/broker fee (often around 1%).

A B mortgage is usually a bridge, not a destination. The plan is a one- or two-year term that gets you into the home or stabilizes your finances, after which you graduate to an A lender at prime pricing once credit or income documentation has improved.

Because B lenders weigh the down payment, property, and exit plan heavily, presenting the file well matters — that's where broker packaging directly affects your rate.

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A lender

A bank or monoline that prices its lowest rates and tightest underwriting against borrowers who fit prime credit, income, and property criteria. The big banks (RBC, TD, Scotia, BMO, CIBC, NB) and major monolines (MCAP, First National, MERIX) are A lenders.

Bridge financing

Short-term loan that lets you close on a new home before the sale of your existing one funds. Priced at prime + premium, secured against both properties, typically up to 90-120 days.

Closed mortgage

A mortgage that limits how much extra you can prepay each year and charges a penalty if you break the term early. Almost all standard Canadian mortgages are closed because the rates are materially lower than open.

Collateral charge mortgage

A mortgage registered against your property for more than the actual loan amount, letting you increase the limit later without re-registering. Common at TD and Scotia. Makes inter-lender switches harder mid-term.

Conventional mortgage

A mortgage with at least 20% down. No mortgage default insurance required. Pricing is typically higher than insured because the lender carries more of the credit risk.

HELOC

Home Equity Line of Credit

A revolving line of credit secured against your home, typically up to 65% LTV stand-alone or 80% combined with a mortgage. Variable rate (prime + spread), interest-only minimums, redraw any time.

Meet Maya · AI assistant

A question at midnight? Maya can help.

A licensed mortgage advisor handles your file from first question to closing. Between calls, Maya, our AI assistant, answers questions instantly in 50+ languages. Rate-beat offer: bring a written, current offer from one of the six largest banks for the same product, term and amount, and we will try to beat it or pay you $500, yours or your charity’s. Conditions apply; see full terms.

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