When the bank says no, there's usually a lender who says yes. I've arranged alternative mortgages for Surrey families and business owners for 24 years.
Banks approve a narrow profile: salaried income, clean credit, standard property. If you fall outside it, you're not out of options.
Whose tax returns don't show what they earn
After a divorce, illness, or a bad year
Without a Canadian credit history yet
Retirees and long-time homeowners
Into one payment secured by your home
A purchase or payout that has to close in days, not weeks
Acreage, mixed-use, condos under review, unique builds
If one of these is you, read on. If none of them is, I'll tell you that too; most of my clients still end up at a conventional lender.
Banks' quieter cousins: trust companies and credit unions that accept stated income, lower credit scores, and more property types. Slightly higher rate, one to three year terms, and a path back to an A-lender when your file is ready.
Lent by specialized institutional mortgage lenders, or mortgage investment entities, against the equity in your home. Approval is based mainly on the property and your exit plan, so income and credit matter less. Short term, higher cost, fast. Right for a bridge, a deadline, or a bank decline, and only with a clear way out.
Keep your existing first mortgage and add a second behind it, instead of breaking your bank mortgage and paying the penalty. Used for debt consolidation, renovations, a down payment on an investment property, or a business injection.
I'll tell you which lane fits before we go anywhere near an application.
Your situation, your goal, your timeline. No credit pull.
Across 50+ lenders, including the B-lenders and private lenders who actually fund in Surrey, Delta, Langley, White Rock, and the rest of Metro Vancouver.
Rate, fees, term, and the exit strategy, before you commit to anything.
Appraisal, lawyer, funding. B-lender deals usually close in about two weeks; private deals in 3–5 days once the appraisal is in.
About fees: for most conventional mortgages the lender pays my fee. On alternative and private deals, lender and broker fees apply. You'll see every dollar in writing before you sign, never at the lawyer's office.
Alternative lenders price by location and property type, and the ones who like Surrey townhouses aren't the ones who like Langley acreage. Twenty-four years in Surrey means I know which lender wants your file, and I've sat across the table from most of them.
I work in English, Punjabi, Hindi, and Urdu.
Usually, yes. B-lenders accept lower scores with a larger down payment or more equity; private lenders focus on the property. The plan is to fix the credit during the term and move back to a bank.
Most private lenders lend to a combined 65–75% of the property's appraised value, including your existing mortgage. The more equity, the better the terms.
Often, when your current mortgage has a large penalty or a rate you want to keep. The second carries a higher rate, but only on the amount you add. We run both numbers.
B-lender deals typically close in about two weeks; private deals can close in a few days, typically 3–5, once the appraisal is in.
The first call doesn't touch your credit. One bureau pull is needed before a lender submission, and I'll tell you before it happens.
No. The call and the plan are free. Fees only apply if an alternative or private deal funds, and they're disclosed in writing first.
Each guide goes deeper on one lane. Same approach, same 50+ lenders, same first call.
Written by Sarup Chandi, Mortgage Broker, Centum Chandi Mortgages Inc.
7092 125 Street, Surrey, BC V3W 0T9 · 604-970-5030 · Last updated
The first conversation costs nothing. Call, email, or start the application, in English, Punjabi, Hindi, or Urdu.
