When the bank says no, a plan, not a trap.

Alternative lenders (sometimes called B lenders) are regulated institutions with more flexible criteria for bruised credit or non-traditional income. Private lenders are individuals or funds that lend mainly based on the property's equity, often for short, specific situations.

• Recent credit problems, a consumer proposal or a discharged bankruptcy
• Income that is real but hard to document
• A bridge between buying and selling, or an urgent closing
• Tax arrears or debts that need to be cleared before a bank will lend

Before you sign, you should know exactly how you will move to a regular lender: what credit score you need, how many months of clean history, or which sale or refinance will repay the loan. Every fee is disclosed in writing before you commit.