With the 2018 mortgage changes in Canada, banks will no longer approve the same number of mortgages they have in the past.

This means that, in 2018 alone, more than 100,000 Canadians could be refused the mortgages they would have received in 2017.

What happens to all these Canadians?

Some may choose not to purchase a home after all or may re-apply to a bank with a significantly lower mortgage.


Many other Canadians, however, will turn to alternative lenders, who are now stepping in to fill the gap created by the 2018 mortgage changes in Canada.

Alternative brokerages like Freedom Capital, are not bound by the same lending regulations as banks. This means that our clients have excellent options if the financial stress test laid out in the 2018 mortgage changes in Canada make getting financing difficult. Unlike traditional banks, we do not base your approval on income, job stability or your credit rating. Instead, our applications are based on your equity.

Even those who are turned down by banks may be able to get a mortgage – or other loans – with Freedom Capital. Given this, Canadians who fall through the cracks under the 2018 mortgage changes in Canada are now looking to alternative brokerages to make their home buying dreams a reality.


How our alternative brokerage does it differently

For example, if you are self-employed, an alternative brokerage looks at equity and other “common sense” factors, meaning we offer options for your unique situation that traditional brokers can’t access. For example, when considering mortgages, the 2018 mortgage changes in Canada require banks to refuse anyone who cannot meet a rate that is the higher of the Bank of Canada’s five-year benchmark rate or the contractual mortgage rate plus 2%. This is on top of the limited repayment schedules that were already available.  


We’re here to help

If you are facing issues related to the 2018 mortgage changes in Canada and are ready to explore how Freedom Capital’s alternative lending solutions can work for you, drop us a line. We are always here to help you bring your dreams to life.