The alternative mortgage market in Canada is growing. Currently, it is estimated that the value of these mortgages exceeds $50 Billion.

There is a big misconception when it comes to who uses an alternative mortgage product and for what purpose the product is used for. Some people assume that an alternative mortgage is for people on the financial fringe, such as those with poor credit. The reality is that many of our borrowers are in a transitional period of their life.

Thanks to tight regulation in the prime mortgage space many different types of borrowers have shifted to alternative lenders when they previously would have qualified with a bank.

These borrowers create an opportunity for brokers to grow their business and create long-lasting relationships. Because these borrowers are in transition, they often end up returning to the broker multiple times over a short span of time.
In order to help you identify client opportunities, we created a list of common borrower examples, identified the current challenges they are facing, and detailed how a mortgage from Neighbourhood can help them.