While there are tons of "B side" Lenders in Ontario and in BC, in Saskatchewan it is a very narrow scope with only a few lenders that are willing to help out. Due to this you truly need a local expert to complete a B side mortgage in Saskatchewan.
Typically rates are about 2% higher than standard A side rates, they are available on uninsured mortgages only, therefore 20% down, or 20% equity is needed to complete these types of deals.
WHAT THEY CAN DO:
1) B side lenders will consider former Bankrupt clients the day after discharge, where A side lenders need re-established credit and for clients to be discharged for 2 years.
2) B side lenders will pay out bad credit items on your credit bureau for you, essentially hitting the "reset" button
3) B side lenders will accept FICO scores into the 400s!
If you think you have a bad credit mortgage deal give me a call today!