Overview

Equitable Bank’s Extended Ratios product is a mortgage solution offering enhanced borrowing limits beyond those typically available from traditional lenders. This product is specifically tailored for applicants with business income, requiring at least half of their working income to be from self-employment. It is applicable only for owner-occupied properties, aligning with the needs of homeowners who also run their own businesses. The lending areas for this product are confined to large and medium urban centres, focusing on regions with substantial economic activity. Extended Ratios is ideal for self-employed individuals seeking greater loan capacity for their owner-occupied homes.

Key details

Max Loan to ValueMax Loan to Value (LTV) is the largest loan you can get based on your home's value. For a $500k house, 80% LTV means you can borrow $400k or pay $100k down. 80% of Home Value
Credit ScoreThe minimum credit score required to qualify. If you don't know your score, reach out and we can help. 670 minimum
Max Amortization 30 years
Mortgage Amount $ 75K - $ 4M

Rates and fees

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Disclaimer: This rate table represents the best rates available from this lender. Rates and fees may depend on several factors, such as your Loan to Value, credit history, income, property use, property location, etc. For a precise quote, fill out the form at the bottom of the page for a no-obligation call.

More information

Transaction
Purchase Refinance Equity Takeout Debt Consolidation Private Lender Payout Tax Arrears Payout
Property Types
Detached Semi-detached Condo Townhouse Duplex Triplex Fourplex
Program
Borrow More Low Taxable Income Self-Employed Income Commission Income
Tags
Foreign Down Payment Self Employed < 2 Years Gifted Down Payment Borrowed Down Payment Prior Bankruptcy Prior Consumer Proposal

This section lists what the lender either does accept or they may consider on a case-by-case basis depending on the rest of the application. If it’s case-by-case, we try and include a note in the policy details to help give more specific information. But keep in mind alternative (private and ‘b’) mortgages are situation dependent and some of the above items can’t be combined. If you’re unsure or have a question, please fill out the contact form at the bottom of the page or speak with your mortgage professional.

About the Lender

Equitable Bank is a leading Canadian financial institution, well-known for its comprehensive suite of residential and commercial lending services. Founded in 1970 as The Equitable Trust Company, Equitable Bank offers a robust portfolio of alternative mortgage solutions, catering to a diverse range of customer needs. These residential lending services have been a cornerstone of the bank's offerings, helping clients navigate complex real estate scenarios. Equitable Bank's strategic focus on digital channels is embodied in EQ Bank, its direct banking brand launched in 2016, that has served to enhance its customer service capabilities. Notably, Equitable Bank also provides a popular reverse mortgage product, which allows senior homeowners to tap into the equity of their homes without having to sell or move. The bank's head office is located in Toronto, with additional branches in various Canadian cities. Equitable Bank, under its parent company EQB Inc., is listed on the Toronto Stock Exchange.

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The content on this website is for informational purposes only and does not constitute professional advice. Policies, rates, and fees are subject to change without notice at the lender’s discretion. There may be additional costs not mentioned on this page. Cost of financing is depends on the situation, and it is the responsibility of your mortgage professional to disclose that information at the time of application. In the event of a discrepancy between this page and the lender, the lender is assumed to be correct. Before making any financial decisions, please consult with a qualified mortgage professional. By using this website, you accept the above statement and our terms and conditions.