Mortgage Lending Solutions for Brokers in North Vancouver
Deals Done Differently
Creative, equity-based mortgage solutions across BC for clients with complex income, credit, or structure.
Straightforward Solutions
We review the merits of each file individually and look for creative, straightforward solutions.
We’re not limited by the same regulations as the banks, so if your client doesn’t fit into the banks’ “box”, send them to us! We live outside the box in a land with real people, not numbers.
We’re not restricted by GDS/TDS
Income comes in different shapes and sizes and we welcome them all! Because we are not restricted by the banks’ regulations, we are in a position to look at the whole financial picture to support your clients’ payment abilities, even if they’re self employed.
We have a lender for that…
At Cove, we have access to funds from a variety of sources, including our own mortgage investment corporation (MIC). This allows us to help you with a wide range of deals – from low rate 1st mortgages to higher LTV 3rd mortgages, we will match your client with the lender that’s right for them.
Credit bureaus don’t always add up…
Math. It’s a fact. 1 + 1 will always = 2 … except on a credit bureau!
A low beacon score doesn’t always mean a bad payment record. We’ve seen beacon scores that just don’t make sense – which is why we feel it’s important to look beyond the number. We read the whole report! We review the clients’ payment history and take into account their story – something the banks just don’t have the flexibility to do.
Guidelines
General Underwriting Guidelines
General Terms
- 1st, 2nd, and 3rd mortgages
- Purchases, Refinances, Debt consolidations, Equity Take outs
- 1-2 year terms available
- Amortized or Interest Only payments available
- Up to 75% LTV financing
Competitive Rates*
Contact us for our current rates or subscribe to our marketing updates to stay up to date on our sales.
Reasonable Fees*
- Starting at 1% for all mortgages
- Minimum $2,000
*Subject to change without notice
We welcome…
- Self-employed borrowers (registration in company name permitted)
- Borrowers with multiple properties
- No minimum beacon score requirement
- Non-traditional income streams (we don’t rely on GDS/TDS)
We lend on…
- Single Family Residential
- Condo Apartments
- Town Homes
- Small Commercial
- Serviced Land
- Mobile Homes (affixed to land)
…all across BC!
FAQs
Find some of the most common questions answered!
Find answers to commonly asked questions about our services and policies.
What is your minimum beacon score?
We don’t have one! We look at more than just the numbers. Let’s face it – numbers don’t always add up! We look past the credit score by reviewing all the details in the credit report – getting a sense of who your client is.
Do you lend to clients with multiple rental properties?
Yes! We think that homes generating income to offset the mortgage should be able to do just that! Don’t you? We love rental properties and clients that have rental income streams.
GDS/TDS
We are not restricted by GDS/TDS, we are in a position to look at your client’s entire financial picture to help you find the right mortgage for their circumstances.
Do you lend to self employed borrowers?
Yes we do!
If your client is self-employed, we may need to see proof of their GST remittances, and/or employee source reductions (because, believe it or not, the government will come after us if these aren’t paid!).
Contact our Team
