Alternative lender review
Explore mortgage programs that may offer more flexibility around credit, income documentation, debt ratios, property type, or employment history than a traditional bank.
Alternative & Private Mortgage Lending in London, Ontario
Turned down by your bank, dealing with credit challenges, or unable to prove your income in the usual way? Marie Sanon can review alternative and private mortgage options based on your circumstances, property, available equity, and financial plan.
Get Help With My MortgageServing homeowners, homebuyers, investors, and self-employed borrowers in London, St. Thomas, Strathroy, Woodstock, Ingersoll, and surrounding Ontario communities.
A bank decline does not always mean there are no mortgage options. Alternative and private lenders may assess your application differently, but the right solution must still be affordable, suitable, and supported by a clear plan.
The core problem
Your mortgage application may not fit a bank’s standard approval rules.
Traditional lenders normally rely on established income documentation, credit history, debt-service limits, and specific property requirements. That can make approval difficult when you are self-employed, rebuilding your credit, carrying higher debts, facing an urgent closing, dealing with mortgage arrears, or reporting income that does not fit a conventional lender’s guidelines.
An alternative or private mortgage may provide another route, but these options can involve higher rates, lender fees, brokerage fees, shorter terms, and stricter repayment conditions. The goal is not simply to find someone willing to lend. It is to understand the complete cost, risks, and long-term strategy before proceeding.
? Can I qualify after my bank or current lender has declined me?
? Can a lender work with self-employed or difficult-to-document income?
? Can I use my home equity to consolidate debts or resolve mortgage arrears?
? What will the rate, lender fee, brokerage fee, legal cost, and total borrowing cost be?
The solution
A properly reviewed mortgage strategy, not simply a quick approval.
Private mortgage options
When traditional and alternative lenders are not a fit, a private lender may consider the property, available equity, loan position, repayment ability, and the plan for paying out the mortgage.
Self-employed income solutions
Review options for business owners, contractors, commission earners, and other borrowers whose tax returns may not fully reflect the income available to support a mortgage.
Credit and debt challenges
Look beyond the credit score alone and review the reason for previous challenges, recent repayment history, current obligations, property equity, and the steps being taken to improve the situation.
Cost and exit strategy
Understand the full borrowing cost and establish a realistic plan to sell, refinance, improve credit, reduce debt, document income, or return to lower-cost financing when the mortgage term ends.
How it works
Three steps to determine whether an alternative mortgage makes sense.
Every situation is different. Marie begins by reviewing why the traditional mortgage route is not working, what the property and financial numbers look like, and whether a responsible alternative can be structured.
01
Tell Marie what is happening
Explain your mortgage goal, income situation, credit history, current debts, property details, available equity, deadlines, and any previous lender decisions.
02
Review the available lender paths
Marie can assess whether a traditional, alternative, or private lender may be suitable and explain the documentation, conditions, costs, and risks associated with each available option.
03
Build the mortgage and exit plan
If an alternative or private mortgage is appropriate, the next step is to understand how it solves the immediate problem and how you plan to repay, refinance, renew, or exit the mortgage.
Meet the advisor
Marie Sanon
As a Mortgage Agent Level 2, Marie Sanon can work with traditional financial institutions as well as alternative and private mortgage lenders. This broader access can be important when a borrower’s income, credit, debts, property, or timeline does not fit standard bank guidelines.
Marie helps clients understand more than whether a lender may approve the application. She reviews the proposed mortgage amount, payments, interest rate, lender and brokerage fees, legal costs, mortgage position, term, renewal considerations, and the strategy for moving forward when the term ends.
Whether you are buying, refinancing, consolidating debt, resolving mortgage arrears, dealing with a bank decline, or looking for a short-term equity-based solution in London or the surrounding area, Marie can help you understand which options may be available.
Mortgage availability, rates, fees, terms, loan amounts, and approvals depend on borrower qualification, property value and condition, available equity, lender review, and current underwriting requirements. Alternative and private mortgages may cost more than traditional bank financing and may not be suitable for every borrower.
FAQ
Alternative and private mortgage questions Marie can help you answer.
The answers below provide general information for London and Ontario borrowers. Your eligibility, costs, risks, and available lender options must be assessed using your actual financial and property details.
An alternative mortgage lender provides financing outside the standard approval approach used by many major banks. Depending on the lender and program, there may be more flexibility around self-employed income, previous credit problems, higher debt-service ratios, shorter employment history, rental income, or certain property types. Alternative mortgages generally still require a detailed review of income, credit, debts, down payment or equity, and the property being financed.
A private mortgage is funded by an individual, group of investors, mortgage investment company, or another non-traditional lender. Private lenders often place significant importance on the property, available equity, mortgage position, and the borrower’s plan for repaying or replacing the loan. These mortgages are commonly used as short-term solutions and can involve higher interest rates and fees than traditional financing.
Possibly. A bank decline may reflect that the application does not meet that institution’s lending policies. An alternative or private lender may assess income, credit, debts, equity, and property risk differently. Approval is never automatic, and the reason for the decline must be reviewed before Marie can determine whether another lender path may be responsible and realistic.
Some alternative lenders offer programs for established self-employed borrowers whose taxable income does not present the full picture of their business cash flow. The lender may request items such as business bank statements, personal bank statements, invoices, contracts, financial statements, tax documents, business registration records, or confirmation from an accountant. The documentation required depends on the lender, mortgage purpose, property, and strength of the overall application.
A private mortgage may sometimes be used to consolidate high-interest debts, pay mortgage arrears, address property-tax arrears, or create time to deal with an urgent financial situation. The property must normally have enough acceptable equity, and the new mortgage must offer a credible path forward. Time-sensitive legal or enforcement matters should be addressed immediately with the appropriate mortgage, legal, and financial professionals.
Costs vary based on the lender, property, mortgage amount, loan-to-value ratio, mortgage position, credit profile, term, and overall risk. Costs may include interest, lender fees, brokerage fees, appraisal costs, legal fees, administration charges, and possible renewal or discharge expenses. Before signing, you should receive written disclosure explaining the mortgage terms, fees, material risks, annual percentage rate, and overall cost of borrowing.
Not always. Some private mortgages require interest-only payments during the term, which means the regular payment may not reduce the principal balance. Other payment structures may be available. Marie can explain how the proposed payments are applied, what balance will remain at maturity, and how the repayment structure affects your exit plan.
Private mortgages are commonly intended to solve a temporary financing problem. Before proceeding, you should have a reasonable plan for what happens when the term ends. That plan may involve improving credit, reducing debt, documenting stronger income, completing renovations, selling the property, refinancing with another lender, or using another clearly identified source of funds. The strategy should be realistic and should account for possible renewal costs or changes in property value and lender requirements.
Marie will begin by learning about your mortgage goal, income, credit, debts, property, available equity, and timing. She can then explain which documents may be needed and whether a traditional, alternative, or private lender appears worth exploring. Requesting a review is not a mortgage application, does not guarantee approval, and does not require you to accept a proposed mortgage.
A bank decline does not have to be the end of the conversation.
Request a confidential mortgage review to learn whether a traditional, alternative, or private lender may offer a suitable path for your income, credit, property, equity, and financial goals.
