Explore Alternative Lending with our Expert guidance.
Because every story matters
At My Mortgage Medics, we specialize in helping Canadians get approved even when the banks say no.
What is Alternative Lending?
Alternative lending refers to mortgage financing arranged outside of Canada’s major banks. In Calgary and across Alberta, alternative lenders include credit unions, trust companies, mortgage investment corporations (MICs), and private lenders, all of whom have more flexible approval criteria than traditional banks.
If you’ve been declined by your bank due to credit challenges, self-employment income, a recent job change, or a non-traditional property, alternative lending may be your path to homeownership. Alternative lenders evaluate your full financial picture, not just your credit score; making it possible to get approved even in complex situations.
At My Mortgage Medics, we work with a network of 30+ alternative and private lenders across Calgary and Alberta. We match you with the right lender for your situation, negotiate on your behalf, and help you build toward conventional financing in the future. Many of our clients use alternative lending as a stepping stone, improving their credit and equity position before transitioning back to a bank at a lower rate.
At My Mortgage Medics, we treat your circumstances with care, not judgment.
Who We Help!
- You’re new to Canada or recently started a new job
- You’re self-employed or have irregular income
- You’ve been declined due to bad or limited credit
- You need quick funds for emergencies or bridging
- You want to consider Refinancing options
Why Choose My Mortgage Medics?
Not Just Brokers—We’re Problem Solvers
We act as your financial first responders. At My Mortgage Medics, we don’t just match you with a lender—we walk with you, explain every option, and tailor the solution to your life goals. Our licensed experts understand urgency, discretion, and trust.
Book A Free Consultation.
You should get the best mortgage possible! Request a free consultation and we’ll handle the rest.
Benefits of Working with Us
For First-Time Buyers:
- Compare rates from top lenders to secure competitive deals.
- Use advanced tools to identify the lowest rates quickly.
- Access tailored advice from experienced local brokers
- Explore special programs designed for first-time buyers
For All Homebuyers:
- Access competitive rates tailored to your unique financial goals.
- Refinance with ease to reduce monthly payments or shorten your term.
- Leverage home equity to fund renovations, education, or investments.
- Enjoy a stress-free experience with our step-by-step guidance.
Over 30+ Top-Rated Lending Partners
More Lenders, More Options, Better Rates
We have a pool of home loan options that allow us to find you the most ideal solutions. Our team of experts’ research and negotiate on your behalf to secure the best outcomes.
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the next step?
Frequently asked questions
Alternative lending refers to mortgage financing outside traditional banks, including credit unions, private lenders, and mortgage investment corporations (MICs). You might need alternative lending if you're self-employed with non-traditional income, have credit challenges, need faster approval, or are
purchasing unique properties that banks won't finance.
Alternative lender rates typically range from 6.5% to 12%, depending on the lender type and your situation. Credit unions often offer competitive rates similar to banks. Private lenders charge higher rates but provide flexibility. Terms can range from 6 months to 5 years. While rates are higher, alternative lending can help you secure properties or improve your credit for future bank financing.
Yes, many alternative lenders focus on your property's value and your ability to make payments rather than just credit scores. While you'll pay higher rates, alternative lending can be a path to homeownership or help you rebuild credit. We work with lenders who specialize in credit-challenged borrowers and can often find solutions even with scores below 600.
A: Alternative lenders usually require 20% down payment, depending on the property type and your situation. Private lenders often want 9-20% minimum, while some specialized programs may accept less. The larger down payment reduces the lender's risk and can help secure better terms. We help structure deals to minimize down payment requirements.
Documentation varies by lender type. Credit unions require similar paperwork to banks. Private lenders may accept bank statements, notice of assessments, or asset verification instead of traditional employment letters. Self-employed borrowers often use business financial statements or accountant letters. We guide you through specific requirements for each lender type.
Absolutely. Many of our clients use alternative lending as a stepping stone to improve their credit, build equity, or stabilize their income, then refinance to a bank at lower rates. We typically recommend reviewing your options 6-12 months before your term expires to ensure you can transition to better terms when possible.
