{"id":432,"date":"2023-04-11T09:45:55","date_gmt":"2023-04-11T09:45:55","guid":{"rendered":"https:\/\/budgetrates.ca\/?post_type=service&#038;p=432"},"modified":"2023-04-14T09:32:20","modified_gmt":"2023-04-14T09:32:20","slug":"alternative-non-traditional-loans","status":"publish","type":"service","link":"https:\/\/budgetrates.ca\/fr\/service\/alternative-non-traditional-loans\/","title":{"rendered":"Alternative \/ Non-Traditional Loans"},"content":{"rendered":"<div id=\"fws_69d267de70a9a\"  data-column-margin=\"default\" data-midnight=\"dark\"  class=\"wpb_row vc_row-fluid vc_row  reverse_columns_column_phone\"  style=\"padding-top: 0px; padding-bottom: 0px; \"><div class=\"row-bg-wrap\" data-bg-animation=\"none\" data-bg-animation-delay=\"\" data-bg-overlay=\"false\"><div class=\"inner-wrap row-bg-layer\" ><div class=\"row-bg viewport-desktop\"  style=\"\"><\/div><\/div><\/div><div class=\"row_col_wrap_12 col span_12 dark left\">\n\t<div  class=\"vc_col-sm-6 wpb_column column_container vc_column_container col padding-5-percent inherit_tablet inherit_phone\"  data-padding-pos=\"right\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t<div class=\"nectar-split-heading\" data-align=\"default\" data-m-align=\"inherit\" data-text-effect=\"default\" data-animation-type=\"line-reveal-by-space\" data-animation-delay=\"0\" data-animation-offset=\"\" data-m-rm-animation=\"\" data-stagger=\"\" data-custom-font-size=\"true\" style=\"font-size: 35px; line-height: 37.8px;\"><h2 style=\" color: #000000;\">What is an alternative \/ non-traditional lender?<\/h2><\/div>\n<div class=\"wpb_text_column wpb_content_element  wpb_animate_when_almost_visible wpb_fadeInUp fadeInUp\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<p>The term &#8220;alternative mortgage lender&#8221; refers to a variety of different financial institutions\u00a0that offer loans to homebuyers. The Big 5 banks provide the bulk of the mortgages in Canada. These large banks provide customers with access to some of the industry&#8217;s most competitive mortgage products, but they are extremely selective in the borrowers they choose to work with since they are subject to stringent government oversight and regulation.<\/p>\n<p>On the other hand, alternative lenders have more freedom when it comes to the terms they offer. They also often have different criteria for approving mortgages.<\/p>\n\t<\/div>\n<\/div>\n\n\n\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n\n\t<div  class=\"vc_col-sm-6 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t<div class=\"img-with-aniamtion-wrap\" data-max-width=\"100%\" data-max-width-mobile=\"default\" data-border-radius=\"3px\" data-shadow=\"none\" data-animation=\"none\" >\n      <div class=\"inner\">\n        <div class=\"hover-wrap\"> \n          <div class=\"hover-wrap-inner\">\n            <img class=\"img-with-animation skip-lazy\" data-delay=\"0\" height=\"1696\" width=\"2560\" data-animation=\"none\" src=\"https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-2-scaled.jpg\" alt=\"\" srcset=\"https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-2-scaled.jpg 2560w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-2-300x199.jpg 300w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-2-1024x678.jpg 1024w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-2-768x509.jpg 768w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-2-1536x1017.jpg 1536w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-2-2048x1357.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/>\n          <\/div>\n        <\/div>\n      <\/div>\n    <\/div>\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\t\t<div id=\"fws_69d267de71676\"  data-column-margin=\"40px\" data-midnight=\"dark\"  class=\"wpb_row vc_row-fluid vc_row\"  style=\"padding-top: 0px; padding-bottom: 0px; \"><div class=\"row-bg-wrap\" data-bg-animation=\"none\" data-bg-animation-delay=\"\" data-bg-overlay=\"false\"><div class=\"inner-wrap row-bg-layer\" ><div class=\"row-bg viewport-desktop\"  style=\"\"><\/div><\/div><\/div><div class=\"row_col_wrap_12 col span_12 dark left\">\n\t<div  class=\"vc_col-sm-6 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t<div class=\"img-with-aniamtion-wrap\" data-max-width=\"100%\" data-max-width-mobile=\"default\" data-border-radius=\"3px\" data-shadow=\"none\" data-animation=\"none\" >\n      <div class=\"inner\">\n        <div class=\"hover-wrap\"> \n          <div class=\"hover-wrap-inner\">\n            <img class=\"img-with-animation skip-lazy\" data-delay=\"0\" height=\"1280\" width=\"2560\" data-animation=\"none\" src=\"https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-scaled.jpg\" alt=\"\" srcset=\"https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-scaled.jpg 2560w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-300x150.jpg 300w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-1024x512.jpg 1024w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-768x384.jpg 768w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-1536x768.jpg 1536w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-2048x1024.jpg 2048w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-1000x500.jpg 1000w, https:\/\/budgetrates.ca\/wp-content\/uploads\/2023\/04\/Alternative-Non-Traditional-Loans-1-670x335.jpg 670w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/>\n          <\/div>\n        <\/div>\n      <\/div>\n    <\/div>\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n\n\t<div  class=\"vc_col-sm-6 wpb_column column_container vc_column_container col padding-5-percent inherit_tablet inherit_phone\"  data-padding-pos=\"right\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t\n<div class=\"wpb_text_column wpb_content_element  wpb_animate_when_almost_visible wpb_fadeInUp fadeInUp\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<p>Some examples of non-traditional lenders are:<\/p>\n<ul>\n<li>community banks<\/li>\n<li>credit unions<\/li>\n<li>B-lenders<\/li>\n<li>private mortgage lenders, etc.<\/li>\n<\/ul>\n<p>Although each sort of lender in the Canadian mortgage market functions a little bit differently, they all offer mortgage lending in some capacity. On the other hand, alternative lenders&#8217; requirements for approving mortgages are more lenient. Even if you&#8217;ve been turned down for a loan from one of the larger banks, alternative lenders offer another route to homeownership as long as you can make your monthly payments.<\/p>\n<p>Alternative mortgage lenders can provide you with mortgage options not offered by conventional banks, such as a speedier mortgage application procedure, special lending terms, or the ability to submit your mortgage application online.<\/p>\n\t<\/div>\n<\/div>\n\n\n\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\t\t<div id=\"fws_69d267de71f7c\"  data-column-margin=\"default\" data-midnight=\"dark\" data-top-percent=\"2%\" data-bottom-percent=\"2%\"  class=\"wpb_row vc_row-fluid vc_row  top_margin_-5pct zindex-set right_padding_5pct right_padding_phone_0pct\"  style=\"padding-top: calc(100vw * 0.02); padding-bottom: calc(100vw * 0.02);  z-index: 100;\"><div class=\"row-bg-wrap\" data-bg-animation=\"none\" data-bg-animation-delay=\"\" data-bg-overlay=\"false\"><div class=\"inner-wrap row-bg-layer\" ><div class=\"row-bg viewport-desktop using-bg-color\"  style=\"background-color: #ffffff; \"><\/div><\/div><\/div><div class=\"row_col_wrap_12 col span_12 dark left\">\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t<div id=\"fws_69d267de721a2\" data-midnight=\"\" data-column-margin=\"default\" class=\"wpb_row vc_row-fluid vc_row inner_row\"  style=\"\"><div class=\"row-bg-wrap\"> <div class=\"row-bg\" ><\/div> <\/div><div class=\"row_col_wrap_12_inner col span_12  left\">\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col child_column no-extra-padding inherit_tablet inherit_phone\"   data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<div class=\"nectar-split-heading\" data-align=\"default\" data-m-align=\"inherit\" data-text-effect=\"default\" data-animation-type=\"line-reveal-by-space\" data-animation-delay=\"0\" data-animation-offset=\"\" data-m-rm-animation=\"\" data-stagger=\"\" data-custom-font-size=\"true\" style=\"font-size: 35px; line-height: 37.8px;\"><h2 style=\" color: #000000;\">Who is an alternative \/ non-traditional lender for?<\/h2><\/div>\n<div class=\"wpb_text_column wpb_content_element  wpb_animate_when_almost_visible wpb_fadeInUp fadeInUp\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<ul>\n<li>Creditworthy borrowers who fall short of the strict requirements set by the big banks. This may be the result of heavy debt, a modest income, a bad credit score, or other factors.<\/li>\n<li>Those with inconsistent or alternative sources of income, such as rental income or self-employment revenue.<\/li>\n<li>Also, if your financial situation has changed since the beginning of your term and you are now at risk of not being able to renew.\u00a0You might wish to think about renewing or refinancing with another lender in this situation.<\/li>\n<\/ul>\n\t<\/div>\n<\/div>\n\n\n\n\n\t\t<\/div> \n\t<\/div>\n\t<\/div> \n<\/div><\/div><div id=\"fws_69d267de7251e\" data-midnight=\"\" data-column-margin=\"default\" class=\"wpb_row vc_row-fluid vc_row inner_row\"  style=\"\"><div class=\"row-bg-wrap\"> <div class=\"row-bg\" ><\/div> <\/div><div class=\"row_col_wrap_12_inner col span_12  left\">\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col child_column no-extra-padding inherit_tablet inherit_phone\"   data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<div class=\"nectar-split-heading\" data-align=\"default\" data-m-align=\"inherit\" data-text-effect=\"default\" data-animation-type=\"line-reveal-by-space\" data-animation-delay=\"0\" data-animation-offset=\"\" data-m-rm-animation=\"\" data-stagger=\"\" data-custom-font-size=\"true\" style=\"font-size: 35px; line-height: 37.8px;\"><h2 style=\" color: #000000;\">How does an alternative \/ non-traditional lender work?<\/h2><\/div>\n\t\t<\/div> \n\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t<div class=\"nectar-fancy-ul\" data-list-icon=\"icon-salient-thin-line\" data-animation=\"true\" data-animation-delay=\"0\" data-color=\"accent-color\" data-spacing=\"default\" data-alignment=\"left\"> Alternative mortgage lenders may accept riskier borrowers, but they must compensate for this by charging slightly higher interest rates.<br \/>\nTo a borrower, though, the difference may not seem like much of a deal, particularly if it helps them on their path to home ownership.<br \/>\nEven though alternative mortgage lenders aren&#8217;t big banks, this doesn&#8217;t make them any less of a legitimate source of financing. Each year, thousands of Canadians obtain mortgages from the most well-known alternative lenders, all of which are well-known and respected businesses. More Canadians are turning to alternative mortgage lenders to finance their home purchases as it gets more challenging to be approved by a major lender. <\/div><div class=\"nectar-split-heading\" data-align=\"default\" data-m-align=\"inherit\" data-text-effect=\"default\" data-animation-type=\"line-reveal-by-space\" data-animation-delay=\"0\" data-animation-offset=\"\" data-m-rm-animation=\"\" data-stagger=\"\" data-custom-font-size=\"true\" style=\"font-size: 35px; line-height: 37.8px;\"><h2 >What are the advantages?<\/h2><\/div><div class=\"nectar-fancy-ul\" data-list-icon=\"icon-salient-thin-line\" data-animation=\"true\" data-animation-delay=\"0\" data-color=\"accent-color\" data-spacing=\"default\" data-alignment=\"left\"> \n<ul>\n<li>Simple, streamlined\u00a0application process<\/li>\n<\/ul>\n<p>Borrowers can expect a reasonably rapid and streamlined application process.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Customers unable to secure a mortgage from a traditional bank may be able to get one from a &#8220;B lender,&#8221; as this type of loan is designed to accommodate borrowers with:\n<ul>\n<li>less-than-perfect credit histories<\/li>\n<li>low incomes<\/li>\n<li>large amounts of debt<\/li>\n<li>missed mortgage payments<\/li>\n<li>foreclosures<\/li>\n<li>bankruptcies<\/li>\n<li>consumer proposals<\/li>\n<li>and other unusual situations<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>B lender mortgages have more flexible qualification requirements and are more accepting of less-than-perfect credit, non-conforming sources of income (such as business-for-self, commission, bonus, part-time, or contract employees), differing down payment sources, and debt servicing ratios. They also have a better way to qualify\u00a0rental property income.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>With an alternative lender, your chances of success are higher if you&#8217;ve had trouble getting funding from conventional financial institutions.<\/li>\n<\/ul>\n <\/div>\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\t\t<div id=\"fws_69d267de729d8\"  data-column-margin=\"default\" data-midnight=\"dark\"  class=\"wpb_row vc_row-fluid vc_row\"  style=\"padding-top: 0px; padding-bottom: 0px; \"><div class=\"row-bg-wrap\" data-bg-animation=\"none\" data-bg-animation-delay=\"\" data-bg-overlay=\"false\"><div class=\"inner-wrap row-bg-layer\" ><div class=\"row-bg viewport-desktop\"  style=\"\"><\/div><\/div><\/div><div class=\"row_col_wrap_12 col span_12 dark left\">\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t<div id=\"fws_69d267de72b34\" data-midnight=\"\" data-column-margin=\"default\" class=\"wpb_row vc_row-fluid vc_row inner_row\"  style=\"\"><div class=\"row-bg-wrap\"> <div class=\"row-bg\" ><\/div> <\/div><div class=\"row_col_wrap_12_inner col span_12  left\">\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col child_column no-extra-padding inherit_tablet inherit_phone\"   data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<div class=\"nectar-split-heading\" data-align=\"default\" data-m-align=\"inherit\" data-text-effect=\"default\" data-animation-type=\"line-reveal-by-space\" data-animation-delay=\"0\" data-animation-offset=\"\" data-m-rm-animation=\"\" data-stagger=\"\" data-custom-font-size=\"true\" style=\"font-size: 35px; line-height: 37.8px;\"><h2 style=\" color: #000000;\">What do I need to get started?<\/h2><\/div><div class=\"nectar-fancy-ul\" data-list-icon=\"icon-salient-thin-line\" data-animation=\"true\" data-animation-delay=\"0\" data-color=\"accent-color\" data-spacing=\"default\" data-alignment=\"left\"> Our recommendation is to consider alternative lenders as your &#8216;Plan B&#8217;.<br \/>\nTogether, we can look at your profile and help you navigate the options that are in your best interest.<br \/>\nIf alternative mortgage funding is the best option for you, we&#8217;ll leverage our understanding of their products, as well as our relationships with them in an effort to find you the best terms and rates.<br \/>\nWe&#8217;ll also set the foundation for an exit plan so you can work towards moving your mortgage to a traditional lender in the future.<br \/>\nDepending on your needs, it may very well make sense to partner with an alternative lender to secure a mortgage.<br \/>\nHave questions? Ready to apply for your mortgage? <\/div>\n\t\t<\/div> \n\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\t\t<div id=\"fws_69d267de73212\"  data-column-margin=\"default\" data-midnight=\"light\" data-top-percent=\"3%\" data-bottom-percent=\"3%\"  class=\"wpb_row vc_row-fluid vc_row full-width-section vc_row-o-equal-height vc_row-flex  bottom_margin_-25px\"  style=\"padding-top: calc(100vw * 0.03); padding-bottom: calc(100vw * 0.03); \"><div class=\"row-bg-wrap\" data-bg-animation=\"none\" data-bg-animation-delay=\"\" data-bg-overlay=\"false\"><div class=\"inner-wrap row-bg-layer\" ><div class=\"row-bg viewport-desktop using-bg-color\"  style=\"background-color: #000000; \"><\/div><\/div><\/div><div class=\"row_col_wrap_12 col span_12 light left\">\n\t<div  class=\"vc_col-sm-4 wpb_column column_container vc_column_container col no-extra-padding force-tablet-text-align-center force-phone-text-align-center inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t\n<div class=\"wpb_text_column wpb_content_element\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<h6>Call us at:<\/h6>\n<p><a href=\"tel:4505007738\">(450) 500-PRET<\/a><br \/>\n<a href=\"tel:4505007738\">(450) 500-7738<\/a><\/p>\n\t<\/div>\n<\/div>\n\n\n\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n\n\t<div  class=\"vc_col-sm-4 wpb_column column_container vc_column_container col no-extra-padding force-tablet-text-align-center force-phone-text-align-center inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t\n<div class=\"wpb_text_column wpb_content_element\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<h6>Toll-free<\/h6>\n<p><a href=\"tel:8448283438\">(844) 8-BUDGET<\/a><br \/>\n<a href=\"tel:8448283438\">(844) 828-3438<\/a><\/p>\n\t<\/div>\n<\/div>\n\n\n\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n\n\t<div  class=\"vc_col-sm-4 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t\n<div class=\"wpb_text_column wpb_content_element\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<h6>Email us at:<\/h6>\n<p><a href=\"mailto:info@budgetrates.ca\">info@budgetrates.ca<\/a><\/p>\n\t<\/div>\n<\/div>\n\n\n\n<a class=\"nectar-button large regular accent-color has-icon  wpb_animate_when_almost_visible wpb_fadeInUp fadeInUp regular-button\"  style=\"\"  href=\"#\" data-color-override=\"false\" data-hover-color-override=\"false\" data-hover-text-color-override=\"#fff\"><span>Book a 1:1 call with us here<\/span><i  class=\"fa fa-calendar-plus-o\"><\/i><\/a>\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\t\t<div id=\"fws_69d267de73d00\"  data-column-margin=\"default\" data-midnight=\"dark\"  class=\"wpb_row vc_row-fluid vc_row\"  style=\"padding-top: 0px; padding-bottom: 0px; \"><div class=\"row-bg-wrap\" data-bg-animation=\"none\" data-bg-animation-delay=\"\" data-bg-overlay=\"false\"><div class=\"inner-wrap row-bg-layer\" ><div class=\"row-bg viewport-desktop\"  style=\"\"><\/div><\/div><\/div><div class=\"row_col_wrap_12 col span_12 dark left\">\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t<div id=\"fws_69d267de73eb4\" data-midnight=\"\" data-column-margin=\"default\" class=\"wpb_row vc_row-fluid vc_row inner_row\"  style=\"\"><div class=\"row-bg-wrap\"> <div class=\"row-bg\" ><\/div> <\/div><div class=\"row_col_wrap_12_inner col span_12  left\">\n\t<div  class=\"vc_col-sm-12 wpb_column column_container vc_column_container col child_column no-extra-padding inherit_tablet inherit_phone\"   data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<div class=\"nectar-split-heading\" data-align=\"default\" data-m-align=\"inherit\" data-text-effect=\"default\" data-animation-type=\"line-reveal-by-space\" data-animation-delay=\"0\" data-animation-offset=\"\" data-m-rm-animation=\"\" data-stagger=\"\" data-custom-font-size=\"true\" style=\"font-size: 35px; line-height: 37.8px;\"><h2 style=\" color: #000000;\">What are the disadvantages?<\/h2><\/div><div class=\"nectar-fancy-ul\" data-list-icon=\"icon-salient-thin-line\" data-animation=\"true\" data-animation-delay=\"0\" data-color=\"accent-color\" data-spacing=\"default\" data-alignment=\"left\"> \n<ul>\n<li>\n<ul>\n<li>Alternative lenders may charge higher interest rates and closing costs than traditional banks.<\/li>\n<\/ul>\n<p>The trade-off might be justified\u00a0given the circumstances.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Some alternative lenders may cease operations.<\/li>\n<\/ul>\n<p>There is always the risk that the alternative lender you&#8217;ve chosen to work with will go out of business because of how new they are to the market. If you&#8217;re considering working with an alternative lender, it&#8217;s important to do your due diligence just as you would with any other company.<\/p>\n<p>Investigate the following, for example:<\/p>\n<ul>\n<li>Do they have at least a few years of business experience?<\/li>\n<li>Do they have sufficient funding?<\/li>\n<li>Are they supported by an established financial institution or a reliable source of funds?<\/li>\n<li>If you have any questions, can you reach a dependable support staff member?<\/li>\n<li>Do they have a lot of positive customers reviews?<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>There may be no discount for early loan repayment.<\/li>\n<\/ul>\n<p>Whatever lender you choose to work with, be sure to ask about any repayment penalties or additional costs.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Certain alternative\u00a0could tack on extra fees.<\/li>\n<\/ul>\n<p>Read the small print and ask questions before to signing any contracts. There are numerous expenses that certain lenders may tack on to a loan, including disbursement fees, origination fees, repayment fees, and more.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>A &#8216;B lender mortgage&#8217; usually requires a property appraisal for all mortgages (buy or refinance), whereas A lender mortgages do not (or do not do so 50-60% of the time).<br \/>\nWe wouldn&#8217;t necessarily\u00a0call this a con, but it does make closing more expensive.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>Some borrowers may find it challenging to come up with the minimum\u00a020% down payment required by &#8216;B lender mortgages. Depending on your financial situation, a larger down payment might be required.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp; <\/div>\n\t\t<\/div> \n\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\t\t<div id=\"fws_69d267de744c5\"  data-column-margin=\"default\" data-midnight=\"light\" data-top-percent=\"3%\" data-bottom-percent=\"3%\"  class=\"wpb_row vc_row-fluid vc_row full-width-section vc_row-o-equal-height vc_row-flex  bottom_margin_-25px\"  style=\"padding-top: calc(100vw * 0.03); padding-bottom: calc(100vw * 0.03); \"><div class=\"row-bg-wrap\" data-bg-animation=\"none\" data-bg-animation-delay=\"\" data-bg-overlay=\"false\"><div class=\"inner-wrap row-bg-layer\" ><div class=\"row-bg viewport-desktop using-bg-color\"  style=\"background-color: #000000; \"><\/div><\/div><\/div><div class=\"row_col_wrap_12 col span_12 light left\">\n\t<div  class=\"vc_col-sm-4 wpb_column column_container vc_column_container col no-extra-padding force-tablet-text-align-center force-phone-text-align-center inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t\n<div class=\"wpb_text_column wpb_content_element\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<h6>Call us at:<\/h6>\n<p><a href=\"tel:4505007738\">(450) 500-PRET<\/a><br \/>\n<a href=\"tel:4505007738\">(450) 500-7738<\/a><\/p>\n\t<\/div>\n<\/div>\n\n\n\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n\n\t<div  class=\"vc_col-sm-4 wpb_column column_container vc_column_container col no-extra-padding force-tablet-text-align-center force-phone-text-align-center inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t\n<div class=\"wpb_text_column wpb_content_element\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<h6>Toll-free<\/h6>\n<p><a href=\"tel:8448283438\">(844) 8-BUDGET<\/a><br \/>\n<a href=\"tel:8448283438\">(844) 828-3438<\/a><\/p>\n\t<\/div>\n<\/div>\n\n\n\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n\n\t<div  class=\"vc_col-sm-4 wpb_column column_container vc_column_container col no-extra-padding inherit_tablet inherit_phone\"  data-padding-pos=\"all\" data-has-bg-color=\"false\" data-bg-color=\"\" data-bg-opacity=\"1\" data-animation=\"\" data-delay=\"0\" >\n\t\t<div class=\"vc_column-inner\" >\n\t\t\t<div class=\"wpb_wrapper\">\n\t\t\t\t\n<div class=\"wpb_text_column wpb_content_element\" >\n\t<div class=\"wpb_wrapper\">\n\t\t<h6>Email us at:<\/h6>\n<p><a href=\"mailto:info@budgetrates.ca\">info@budgetrates.ca<\/a><\/p>\n\t<\/div>\n<\/div>\n\n\n\n<a class=\"nectar-button large regular accent-color has-icon  wpb_animate_when_almost_visible wpb_fadeInUp fadeInUp regular-button\"  style=\"\"  href=\"#\" data-color-override=\"false\" data-hover-color-override=\"false\" data-hover-text-color-override=\"#fff\"><span>Book a 1:1 call with us here<\/span><i  class=\"fa fa-calendar-plus-o\"><\/i><\/a>\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>","protected":false},"template":"","categories":[6],"_links":{"self":[{"href":"https:\/\/budgetrates.ca\/fr\/wp-json\/wp\/v2\/service\/432"}],"collection":[{"href":"https:\/\/budgetrates.ca\/fr\/wp-json\/wp\/v2\/service"}],"about":[{"href":"https:\/\/budgetrates.ca\/fr\/wp-json\/wp\/v2\/types\/service"}],"wp:attachment":[{"href":"https:\/\/budgetrates.ca\/fr\/wp-json\/wp\/v2\/media?parent=432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/budgetrates.ca\/fr\/wp-json\/wp\/v2\/categories?post=432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}