First National Excalibur’s Flex product is a mortgage solution catering to the newly self-employed, specifically those with less than one year of self-employment but with prior work history in the same industry. It allows fully stated income for self-employed individuals, provided the application is plausible for the type of business operation. Notably, bank statements are not required, and the lender is open to considering alternative income sources, such as family contributions or investment income. The assessment focuses on the applicant’s backstory, assets, savings, and investments, offering a comprehensive view of the borrower’s financial situation, thus being less reliant on traditional documentation.

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. 70% of Home Value
Credit ScoreThe minimum credit score required to qualify. If you don't know your score, reach out and we can help. 600 minimum
Max Amortization 40 years
Mortgage Amount $ 100K - $ 1.25M

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

Purchase Refinance Equity Takeout Debt Consolidation Home Renovation Loan Private Lender Payout Tax Arrears Payout Bridge Loan
Property Types
Detached Semi-detached Condo Townhouse Duplex Triplex Fourplex
Self-Employed Income
Prior Bankruptcy Active Consumer Proposal Prior Consumer Proposal Foreign Down Payment Self Employed < 2 Years

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

First National Financial is a leading non-bank lender in Canada, distinguished by its wide range of residential and commercial mortgage solutions. A key aspect of the company's offerings is its Excalibur program, an alternative residential mortgage product designed to cater to borrowers who may not meet the traditional lending criteria of mainstream financial institutions. By offering more flexible qualification requirements and personalized underwriting, Excalibur enables First National Financial to serve a diverse client base, ensuring a variety of mortgage needs are met. This commitment to alternative lending, in conjunction with its extensive portfolio of financial services, underscores First National Financial's influential position in Canada's mortgage lending industry.

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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.