Understand the different types of mortgage lenders in Canada and how each one impacts your approval, rate, and flexibility.

🏦 1. Traditional Lenders (A-Lenders)

• Major banks (RBC, TD, Scotiabank, etc.)

• Best for borrowers with strong credit

• Competitive rates, strict qualification rules

• 🏦 Major Canadian Banks (The “Big Six”)

  • Royal Bank of Canada (RBC) — Canada’s largest bank, offering a wide range of mortgage and banking services reuters.com

  • Toronto-Dominion Bank (TD Canada Trust) — Extensive branch network and competitive mortgage options

  • Bank of Nova Scotia (Scotiabank) — International presence with flexible programs like StartRight for newcomers investopedia.com+2investopedia.com+2happyhomeconnect.com+2

  • Bank of Montreal (BMO) — Known for personalized service and tools like cashback mortgages

  • Canadian Imperial Bank of Commerce (CIBC) — Combines competitive rates with user-friendly refinancing tools

  • National Bank of Canada — Strong in Quebec, expanding nationally with customizable mortgage solutions

🏢 2. Credit Unions

• Community-based lending

• Sometimes more flexible with credit/income

• May offer lower rates or unique terms

• Major Credit Unions in Ontario ( Meridian Credit Union, First Ontario Credit Union, Desjardins)

🤝 3. Mortgage Brokers (like Inbudget)

• Work with multiple lenders

• Personalized recommendations

• Best for first-time buyers or unique situations

🔐 4. B-Lenders (Alternative Lenders)

• Accept lower credit scores or non-traditional income

• Higher rates but easier qualification

• Often used for self-employed or new credit histories

• Institutional B‑Lenders (Monoline & Trust Companies)

• CMLS Financial (Aveo program)

• Equitable Bank (B-lender division)

• First National Financial (Excalibur program)

• MCAP (Eclipse division)

• Home Trust (Classic mortgage)

• Merix Financial (NPX/Lend wise)

• Optimum Mortgage (via Canadian Western Bank)

• RFA (Reality Financial Advisors)

• Bridgewater Bank

• Community Trust

• 🧠 Who Should Consider a B‑Lender?

  • Borrowers with imperfect credit or fewer income documents

  • Self-employed or contract workers without standard income proof

  • Those needing higher borrowing power with relaxed debt ratios

  • Individuals looking for short-term solutions before transitioning to prime lenders

🏘️ 5. Private Lenders

• Individual or investment-backed

• Fast approvals, less documentation

• Short-term solutions — higher rates and fees

• Some of the top Private Lenders in Canada (Financing rate change based on Location and Equity)

• Below are private lenders that operate across multiple provinces (especially BC, AB, ON), offering terms for bridge financing, equity take‑outs, self‑employed individuals, and non-conventional situations:

  • PHL Capital Corporation (BC, AB, ON) – Offers up to 75% LTV; loans from $50K to $10M 

  • First Circle Financial Services Ltd (BC) – 1-year open terms; loans from $100K to $2M 

  • Pioneer West Acceptance Corp (BC, AB) – 6–12 month closed loans; $10K–$10M 

  • VWR Capital Corporation (BC, AB, SK, MB, ON) – 1-year open/closed terms; $50K–$2.5M 

  • Armada Mortgage Corporation (BC, AB, ON) – Up to $950K first mortgages; $250K second mortgages; up to 65%)

  • Three Point Capital (BC, AB, ON) – 1–2 year terms; up to $2.25M

  • Sequence Capital (BC, AB, ON) – 1–2 year open terms; $25K–$5M 

  • Shelter Lending (BC, AB, MB) – 1-year open; $25K–$1.5M; up to 80% LTV 

  • Alta West Capital (BC, AB, ON) – 6-month to 2-year loans; up to $2M; up to 80% LTV 

  • National Equity Lending Corp (BC, AB) – 12–24 month open/closed; $20K–$1.5M; up to 80% LTV

  • Premiere Mortgage (BC, AB, ON) – 1–2 year terms; $10K–$750K; up to 70% LTV 

  • Fisgard Asset Management Corporation (BC, AB, MB, ON) – 6-month, 1- and 2-year options; up to $2.5M; up to 75% LTV 

  • Gentai Capital (BC, AB, ON) – 12-month, first 3 months closed then open; $500K–$10M; up to 75% LTV 

  • Can Terra Financial Inc (BC, AB) – 1–2 year terms; up to $750K; up to 75% LTV 

  • Cambridge Mortgage Investment Corp (BC, AB, ON) – 3–24-month fully open; $50K–$5M; up to 70% LTV 

  • Cove Mortgage Ltd (BC) – 1–2 year terms; $50K–$1M; up to 80% LTV 

  • Neighbourhood Holding Co Ltd (BC, AB, MB, ON, QC, NS) – 12–36 months; $100K–$2M; max 65% LTV with credit score of 500+ 

  • Versa Platinum Financial Corp (BC) – 6 or 12-month loans; $50K–$750K; up to 80% LTV 

  • Reliable Mortgages (BC Lower Mainland) – 1-year open; up to $4M; LOC with no interest on unadvanced funds; up to 80% LTV 

  • CMI Canadian Mortgages Inc (Nationwide) – 3, 6, 12-month custom terms; $50K–$1M+; up to 75% LTV 

  • Much More Private Investors and Lenders available based on your unique situation.

🧠 How Inbudget Mortgage Helps

We compare rates and terms from over 50+ lenders across Canada — including A, B, and private lenders — to find a mortgage that matches your profile and goals.