Alternative Rates

Mortgages
Written By David Pipe

Alternative rates are interest rates offered by alternative lenders that cater to clients who may not meet the strict criteria of traditional banks. These lenders often work with borrowers with non-traditional income sources or unique financial situations.

 

Alternative Rates:

  • Are typically higher than conventional rates to account for added risk.

  • Often include flexible debt ratios, allowing for higher debt-to-income.

  • Are ideal for borrowers who are self-employed or have fluctuating incomes.

 

Overall, alternative rates provide accessible mortgage options for those who need more flexibility than conventional lenders offer.

To learn more about alternative rates, read our article: Getting Mortgage Approval After the Big Banks Say No

 

Learn More About Any of These Terms:

David Pipe

David Pipe helps business owners, investors, and first-time homebuyers build and protect family wealth with creative financing and tax-efficient life insurance solutions. He is an award-winning mortgage agent and life insurance agent in Ontario. David believes education in personal finance and seeking great advice is the best way to reach our financial goals, and he is focused on sharing his knowledge with others. He lives in Guelph, Ontario with his wife Kate Pipe and their triplets (and english bulldog Myrtle).

https://www.wealthtrack.ca/about#about-david-pipe
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