Why Traditional Banks May Not Be Enough

Alternative lending may provide better options when compared to the big banks.

For homeowners with significant assets but limited income, dealing with traditional banks can be frustrating. These institutions often use a one-size-fits-all approach that doesn’t account for the broader picture of your financial situation. If you’re not fitting neatly into their narrow lending box, you might find yourself stuck with fewer options and higher rates.

That’s where alternative lenders come in. These lenders don’t rely exclusively on income; they look at the overall financial picture. For many, this could mean the difference between securing a loan that works for their situation or being turned away because their income doesn’t fit the bank’s strict guidelines.

I routinely see people trying to fit into the wrong home because they do not have options at their bank to secure a mortgage that would allow them the purchasing power they need. Whether you are a parent up-sizing to include a suite for family or are newly retired and want to downsize to something you love, there are lending options to fit your needs. Alternative lenders, Reverse mortgage lenders, high net worth lending, and lenders with flexible payment options.

Reach out today to see what options are available to you! 604-710-8934