A private or alternative lender is a way across, not a place to live. It buys time when a bank can’t move fast enough or something needs fixing, and it should come with an end date.
Know how you leave
The rate on a short-term loan matters less than the exit. Before you sign, know what needs to change (credit rebuilt, income documented, a sale closed) and about how long it takes.
Read the risks before you sign
Fees, term, renewal conditions and what happens if the plan slips: all of it clear before you commit. A bridge loan renewed once too often costs more than the problem it fixed.
Documents to gather
What the lender will ask for.
The goal
Income and documents
Debts and credit
Property or collateral
Deadline
Lenders open to you
Frequently asked
Which documents should I gather?+
Your last two notices of assessment, recent pay stubs, an employment letter, three months of bank statements and proof of your down payment. Get them ready before the offer and a five-day financing condition can work. Get them later and it takes weeks.
Current rates
Today’s rates, with the fine print.
These rates are indicative. Yours depends on your file, the type of mortgage (insured or not) and the lender. And look at the penalty too, it matters as much as the number.
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.
