Question 1

Can I get a mortgage if I owe CRA debt?

Accepted Answer

Yes — CRA debt doesn't automatically disqualify you, but it does limit which lenders will work with you. We specialize in structuring solutions that pay out the CRA while securing your mortgage, often through a private bridge first followed by an alternative or conventional lender.

Question 2

My bank said no — what are my other options?

Accepted Answer

A bank decline is one lender's decision — not the final answer. Through Dominion Lending Centres we have access to major banks, credit unions, alternative lenders, and private lenders. Many clients who were declined by their bank are approved elsewhere, often at rates that surprise them.

Question 3

What is a private mortgage and when do I need one?

Accepted Answer

A private mortgage is funded by a private investor or lender rather than a bank or institution. It's typically used when you need speed, can't qualify conventionally, or need a bridge while resolving another issue. Rates are higher, but it's often the right tool for the right situation.

Question 4

How does a self-employed mortgage work in BC?

Accepted Answer

Self-employed borrowers are often assessed differently than salaried employees. Lenders look at declared income, NOAs, corporate financials, and sometimes bank statements. We specialize in structuring self-employed files to maximize qualifying income — including high business income with low personal income situations.

Question 5

Can I get a mortgage with bruised or bad credit?

Accepted Answer

Yes. Bruised credit limits your options but doesn't eliminate them. Alternative and private lenders assess files differently than banks, and we have VIP-tier relationships that give us access to rates and programs not publicly available. Many clients with scores in the 500s have been approved.

Question 6

What is a reverse mortgage and who qualifies?

Accepted Answer

A reverse mortgage allows homeowners 55+ to access their home equity without monthly payments. We collaborate with Canada's top 5 reverse mortgage lenders — including programs and rates not available publicly. This VIP access means better outcomes for clients and their families at a critical life stage.

Question 7

How does a divorce or spousal buyout mortgage work?

Accepted Answer

A spousal buyout mortgage allows one partner to buy out the other's share of the property. It often involves refinancing the existing mortgage under one name. These files can be complex — especially with bruised credit, legal disputes, or CRA involvement — which is exactly where we specialize.

Question 8

What is a commercial mortgage and how is it different?

Accepted Answer

Commercial mortgages finance income-producing or business properties — multi-family apartments, retail, industrial, mixed-use, and owner-occupied commercial. They're assessed differently than residential: lenders look at property income, cap rates, and business financials. We specialize in complex commercial files across BC and Alberta.

Question 9

What is the Smith Manoeuvre?

Accepted Answer

The Smith Manoeuvre is a Canadian financial strategy that converts your non-deductible mortgage interest into tax-deductible investment loan interest — effectively making your mortgage tax-deductible over time. We work with accountants and financial planners to structure mortgages that support this strategy.

Question 10

What is construction financing and how does it work?

Accepted Answer

Construction financing funds the building process in stages (draws) tied to project milestones — foundation, framing, lock-up, completion. It's structured very differently from a regular mortgage and requires lenders who understand the draw schedule. We finance individual builds, multi-unit projects, and renovations across BC and AB.

Question 11

Can I consolidate debt into my mortgage?

Accepted Answer

Often yes. If you have equity in your home, refinancing to consolidate high-interest debt (credit cards, lines of credit, CRA, judgments) into a single mortgage payment can dramatically lower your monthly cost. We specialize in complex consolidations including CRA debt and collections.

Question 12

Are physician and dentist mortgage programs really better?

Accepted Answer

Yes — physician and dentist programs offer enhanced qualifying treatment for incorporated and high-income professionals, often with better debt servicing ratios and access to higher loan amounts. We have access to multiple specialty lender programs for medical professionals across BC.

Question 13

How long does the mortgage approval process take?

Accepted Answer

It depends on the file. Straightforward residential approvals can be done in 24–72 hours. Self-employed, complex commercial, or private files take 5–14 days depending on documentation. Bridge financing can sometimes close in under a week. We're known for moving fast without cutting corners.

Question 14

Do you charge clients a fee?

Accepted Answer

For most residential and commercial files, we're paid by the lender — there is no fee to the client. On certain private or alternative deals, a brokerage fee may apply and is always disclosed upfront in writing. You'll never be surprised by a fee.

Common questions, straight answers.