This product is ideal for those who have significant equity in their home or can make a large down payment – at least 35%. It’s particularly advantageous for self-employed borrowers, offering a more flexible approach to income verification, which is helpful for those who might report lower income on taxes. While there’s no official minimum credit score, a score of 600 or higher is typically preferred. This product presents a practical solution for individuals with unique financial situations who are in search of mortgage options.

Note: As of December 2023 Peoples Bank temporarily suspended their alternative mortgages during a system upgrade.

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. 65% of Home Value
Credit ScoreThe minimum credit score required to qualify. If you don't know your score, reach out and we can help. No minimum
Max Amortization 30 years
Mortgage Amount $ 200K - $ 2M

Rates and fees

Fill in property value and mortgage amount to see rates

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 Tax Arrears Payout
Property Types
Detached Semi-detached Condo Townhouse Duplex Manufactured Home Acreage Triplex Fourplex
Self-Employed Income Credit Challenges
Prior Bankruptcy Prior Consumer Proposal Foreign Down Payment Holding Company

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

Also known as Peoples Trust, this bank offers a variety of financial services, including residential and commercial mortgages. Its residential mortgage division includes a robust alternative lending program, serving borrowers who may not qualify for traditional mortgage products, thus expanding the availability of home financing in Canada.

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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.