Not Eligible for a Mortgage from a Financial Institution or Bank?

Sometimes, you may not be eligible for a mortgage or personal loan from a financial institution or bank. For various reasons, you may be denied credit access: poor credit score, lack of income, ineligible revenues. How can you unlock capital?

An alternative loan could be the solution for you!

Mortgage Refinancing is proud to help residents of Quebec access credit through an alternative loan! We consider the value of your property to assist you in financing your various purchases and projects. Feel free to contact us to discuss your situation!

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Declined for a Mortgage by a Financial Institution or Bank?

In several specific situations, you may not be eligible to receive a mortgage or personal loan from a financial institution or bank. A denial of requested credit access can be caused for various reasons: poor credit score, lack of income, ineligible income. What options do you have to unlock capital?

Consider an alternative loan from a private lender!

At Mortgage Refinancing, we are proud to lend a helping hand to residents of Quebec, providing access to credit or a mortgage through an alternative loan. During our consultations, we assess the value of your assets such as your property, helping us provide an estimate of costs to assist you in financing your purchases and projects. Contact us anytime to learn more about your financial situation!

Declined by the bank? Switch to an alternative loan!

Benefit from the Services of an Alternative Mortgage Lender Without Credit Checks!

Instead of relying on a person’s financial profile or credit history when applying for a loan, Mortgage Refinancing relies on the value of the person’s property. The beauty of a private mortgage lender is that they rely on the value of your property rather than your credit profile, as a financial institution would. This is an advantage for you as a borrower: your application can be processed, approved, and money sent quickly after your request. Contact us for a quick response and an optimal strategy!

Benefits of Working with Alternative Lenders

Efficient and secure process with easy access to funds

Private lenders do not subject you to rigid processes and complicated bureaucracy like those implemented by traditional financial institutions and banks. Approving a loan application at a financial institution can take days, or even weeks in some cases.

H6: Moreover, anyone is potentially eligible for an alternative loan at Mortgage Refinancing, whether you are self-employed or an employee in a company.

With Mortgage Refinancing, find peace of mind knowing you can apply for a loan in minutes. To better serve you, our team will be able to assess your file and provide an answer in less than a day!

The simplicity and speed of a private loan make it a perfect option for those with urgent needs!

Keep your credit score intact with the help of an alternative lender

Unlike declaring bankruptcy, an alternative loan will not have a negative impact on your credit score. Since it is a loan like any other, you do not put yourself in a bad financial situation. Let’s not forget that declaring bankruptcy gives your file the “R9” mark, which makes access to credit very difficult. Each credit bureau will keep this mark for 7 years. Mortgage Refinancing can help you avoid this situation with a solid budget!

Alternative financing based on the value of your home, not your credit score

As private lenders, to help all people in need (potential homeowners with low credit or high levels of debt), we have made the decision to base ourselves on the value of your property or other real estate. When granting mortgage loans, unlike regular lenders, we do not base ourselves on your credit history or credit score. An alternative loan is relatively risky for both parties involved. The alternative loan application process is more accelerated overall. We do not ask for many documents and other endless paperwork. We are proud to be able to help many people and lend capital to more people who are neglected by financial institutions.

Whether it’s for a purchase, an investment, a mortgage, or debt consolidation, the Mortgage Refinancing team is here for you! Furthermore, if you are lucky, you may be able to enjoy the same credit check-free mortgage rates as traditional borrowers.

You have the final say: our terms are flexible according to your needs

Every day, we work to offer you what you need, which is why we want to meet with you to discuss your financial capabilities and payments. Mortgage Refinancing offers you flexible terms according to your needs because you want to make sure you are in a financial situation where you can repay your alternative loan.

Flexible payments are available as well as reducing your monthly fees to give you the opportunity to save on your repayment

Mortgage Refinancing is your ally in choosing the best possible private financing terms!

We care deeply about our mission and values; we work in the interest of our clients and promote success in their projects. Our guideline is very clear for all staff members. That’s why all our employees are there for you and meet your needs and take the time to assess your file to ensure that we offer you better reliable services and personalized recommendations.

Professional assistance with financial institutions for a regular loan

Our service always begins with personalized support to our clients when approaching different financial institutions to try to secure a traditional mortgage. With traditional lenders, you can expect more favorable regular interest rates with the possibility of a long-term loan. On the alternative loan side, we explore with you different financing possibilities to ensure the best option for you!

If you find yourself with a credit record that is not approved by banking institutions, contact our alternative financing experts to discuss your needs and how we can improve your financial situation with you. We will be happy to assess different available options and explore the possibilities offered by an alternative loan with Mortgage Refinancing. With flexibility and a human approach, we are confident that a loan with us is an excellent option for your various projects.

Contact us today to unlock funds quickly!
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Declined by the bank? We are ready to help you!

Learn More About Alternative Loans and Alternative Mortgage Lenders

What is an Alternative Loan or Credit?

An alternative loan is quite similar to a mortgage or personal financing obtained from a bank. The difference is that, compared to a bank loan, an alternative loan comes from an individual or a company. This is called an alternative mortgage lender; they prepare for greater risk in their loans, but it’s also a sharing of money for a shorter duration.

When is an Alternative Loan the Best Solution?

An alternative loan is a useful solution for people who are seeking a source of financing for a project, such as renovations or purchasing a car, but have a “risky” profile. Due to their higher risk, banks may deny financing requests from individuals with a poor payment history or low income.

Fortunately, the alternative mortgage lender has a relationship with financial institutions and banks; it’s through these relationships that lenders can assist you with your loan requests. When research is ineffective and your loan application is declined, it’s the turn of the alternative lender to offer you a loan based on the value of your property.

What is an Alternative Mortgage Lender?

An alternative mortgage lender is a specific type of lender. It is an individual or a group that acts as an investor; the alternative mortgage lender can also be a company. Private lenders have access to a source of capital that they use to make private loans, such as mortgage refinancing or debt consolidation.

How do Alternative Mortgage Lenders Differ from Traditional Lenders?

Alternative mortgage lenders offer financing solutions for those who do not meet the strict criteria of traditional lenders. While traditional banks primarily rely on stable income and a strong credit history, alternative lenders can be more flexible, focusing on property value and down payments. These lenders may have higher mortgage rates due to increased risk and may offer fixed or variable rates.

What is the Role of a Mortgage Broker in the Alternative Lending Sector?

A mortgage broker acts as an intermediary, helping borrowers navigate the vast loan market, including alternative lenders and credit unions. By understanding the nuances of debt ratios, types of loans, and property types, the broker can identify the best option for the borrower, whether it’s a traditional or alternative mortgage financing.

Why Opt for an Alternative Loan or Alternative Mortgage Lender for Home Purchase or Mortgage Investment?

For those with less than perfect payment history or unstable income, alternative lenders can offer a temporary solution for home purchase or mortgage investment. These loans may have a shorter term and may require a larger down payment. Additionally, repayment ability and insurance play a crucial role in the lender’s decision.

How Do Overnight and Annual Rates Influence Alternative Loans?

The overnight rate is a key indicator for all lenders, including alternative lenders. If it increases, interest rates for alternative loans may also rise. The annual rate, on the other hand, provides a comprehensive overview of the loan cost over a year, considering interest and fees.