Beyond the Banks How Alternative Lending Supports Today’s Borrowers

Tanya Toye • April 21, 2026

In today’s lending environment, traditional mortgage solutions don’t always fit every borrower’s situation – and that’s where alternative and private lending can play an important role.


Many Canadians assume that if they don’t meet the strict guidelines of major banks, their homeownership plans are on hold. But that’s not necessarily the case. Alternative and private lenders offer flexible solutions designed to work with real-life financial scenarios, not just ideal ones.


Added flexibility for borrowers

One of the biggest advantages of alternative lending is flexibility. Borrowers who are self-employed, have variable income, are newly commissioned or have experienced past credit challenges may find it difficult to qualify with traditional lenders. Alternative lenders take a more holistic view, often considering the full financial picture rather than relying solely on credit scores or rigid income verification.


Private lending takes that flexibility even further. These solutions are typically asset-based, meaning the focus is more on the property and available equity than on income or credit history. This can be especially helpful for borrowers who need short-term financing, are in the middle of a transition (such as between jobs or properties) or require quick access to funds.


Speed is another key benefit. Private and alternative lenders can often move much faster than traditional banks, which can make all the difference in competitive real estate markets or time-sensitive situations.


An exit plan is essential

It’s also important to understand that these solutions are often strategic, not permanent. Many borrowers use alternative or private financing as a stepping stone – offering time for you to improve credit, stabilize income or consolidate debt before transitioning back to a traditional mortgage with more favourable rates.


Of course, there’s often a trade-off for added flexibility. In this case, you can expect higher interest rates and additional fees compared to traditional mortgage products. That’s why working with a mortgage broker is essential. A broker can help assess whether an alternative or private solution makes sense, structure the financing appropriately and build a clear exit strategy.


Ultimately, alternative and private lending solutions expand what’s possible. They provide borrowers with opportunities, flexibility and a path forward when traditional options fall short.


Wondering if alternative or private mortgage options are right for you? I’m here to help weigh every solution. 604-788-8693 | tanya@tanyatoye.ca

Tanya Toye

Mortgage Broker

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Breaking Down the Real Costs of Homeownership

By Tanya Toye • May 27, 2026
Don’t Forget About Closing Costs When planning to buy a home, most people focus on saving for the down payment. But the truth is, that’s only part of the equation. To actually finalize the purchase, you’ll also need to budget for closing costs —the out-of-pocket expenses that come up before you get the keys. Closing costs can add up quickly, which is why they should be part of your pre-approval conversation right from the start. Lenders will even require proof that you’ve got enough funds set aside. For example, if you’re getting an insured (high-ratio) mortgage, you’ll need at least 1.5% of the purchase price available in addition to your down payment. That means a 10% down payment actually requires 11.5% of the purchase price in cash to make everything work. Let’s break down some of the most common expenses you should prepare for: 1. Home Inspection & Appraisal Inspection : Paid by you, this gives peace of mind that the property is in good shape and doesn’t have hidden problems. Appraisal : Required by the lender to confirm value. Sometimes this is covered by mortgage insurance, sometimes by you. 2. Legal Fees A lawyer or notary is required to handle the title transfer and make sure the mortgage is properly registered. Legal fees are often one of the larger closing costs—unless you’re also responsible for property transfer tax. 3. Taxes Many provinces charge a property or land transfer tax based on the home’s purchase price. These fees can range from hundreds to thousands of dollars, so you’ll want to factor them in early. 4. Insurance Property insurance is mandatory—lenders won’t release funds without proof that the home is insured on closing day. Optional coverage like mortgage life, disability, or critical illness insurance may also be worth considering depending on your financial plan. 5. Moving Costs Whether you’re renting a truck, hiring movers, or bribing friends with pizza and gas money, moving comes with expenses. Cross-country moves especially can be surprisingly pricey. 6. Utilities & Deposits Setting up new services (electricity, water, internet) can involve connection fees or deposits, particularly if you don’t already have a payment history with the utility provider. Plan Ahead, Stress Less This list covers the big-ticket items, but every purchase is unique. That’s why it pays to have an accurate estimate of your personal closing costs before you make an offer. If you’d like help planning ahead—or want a breakdown tailored to your situation—let’s connect. I’d be happy to walk you through the numbers and make sure you’re fully prepared.

The Rise of Multi-Generational Homebuying

By Tanya Toye • May 23, 2026
As home prices continue to challenge affordability, more families are exploring creative ways to make homeownership possible. One option that has been growing in popularity is purchasing a single-family dwelling together. For some families, this approach can create opportunities that may not have been achievable individually, while also offering practical support across generations. Multi-family homeownership is not a one-size-fits-all solution but, in the right situation, it can work extremely well. Parents helping adult children enter the housing market, siblings purchasing together or families combining resources to care for aging relatives are all examples of scenarios where shared ownership can make sense. In many cases, a single-family dwelling or full duplex tends to be the preferred property type for this arrangement. Whether the property is freehold or leasehold, these options often provide the flexibility, privacy and living space families are seeking. A full duplex, in particular, can offer a balance between shared ownership and independent living, allowing family members to live close together while still maintaining separate spaces and routines. Combining incomes and down payment resources may improve purchasing power and help families qualify for properties that better meet their long-term needs. Shared expenses such as utilities, maintenance, property taxes and mortgage payments can also reduce the financial pressure that many households are currently experiencing. Careful planning required Purchasing property jointly is a major decision and requires careful planning. It’s important for everyone involved to have open conversations about finances, responsibilities, future plans and expectations before moving forward. Questions around ownership structure, exit strategies, inheritance considerations and ongoing costs should all be discussed early in the process. Legal and financial advice can be extremely valuable to ensure everyone understands their rights and obligations. Lenders will also evaluate the overall application differently when multiple borrowers are involved. Income sources, credit history, debt levels and the intended use of the property all play a role in financing approval. Working with you mortgage broker can help families understand available options and how to structure the purchase appropriately. For some families, buying together may provide a practical path toward stability, affordability and long-term wealth building. While it may not be the right fit for everyone, it’s becoming an increasingly common strategy for families looking to support one another and navigate today’s housing market together. Wondering if multi-generational living is right for you? I’m here to help explain all your options. 604-788-8693 | tanya@tanyatoye.ca