Bank Mortgages, Alt-A Lending and Private Mortgages


Benevolent Bancorp is a wholesaler like “Costco”. Our rates are always lower than the banks rates because we not only give them volume but we also give them a totally underwritten mortgage so they save time.

We know the underwriting guidelines and mortgage products of almost all the banks. Even if you have gotten a rate quote from a particular bank, we can submit your mortgage to the same bank and get you a better rate.  

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If you do not meet the rigid guidelines of the banks, then the next option is Alternative Lending. The rates are slightly higher than those of Bank’s but the qualifying is a little easier. Alt-A or Alternative lending accepts low credit score and high debt ratios. For self-employed, instead of Tax Returns, Alternative Lending can accept six to 12 months of bank statements to show cash flow to qualify.


If you do not qualify for the Bank Mortgage or the Alternative Lending, then maybe the Private Mortgage is your best option. The private money mortgages are a great solution for borrowers and real estate investors that require quick funding to purchase, refinance, renovate, debt consolidation or buy time to fix their credit and or income situation so they can qualify for the conventional mortgage in due time. No income verification needed for Private Mortgages and credit score can be low. Although Private Mortgage rates may seem high for a mortgage in today’s economic climate, private mortgages are generally only intended to be used for short periods. A typical term for a Private Mortgage is 6 months to 1 year. They are generally interest only payments, and are primarily used to help you rebuild your credit or get you out of a tight spot. That’s why private Mortgages are also called ‘Band-Aid’ Mortgages. At Benevolent Bancorp we will not only get you a private mortgage at the lowest rate and the best possible terms but also, help you with your exit strategy to return you to a traditional lender like a bank. Benevolent Bancorp not only does Private Mortgages in Vancouver, Surrey, Richmond, White Rock, Burnaby, Coquitlam, Chilliwack, Abbotsford, Mission, Kelowna, Kamloops but all across British Columbia and Ontario, Canada. Call us now for instant approval and funding in five days.
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When you buy a home and let’s say you put 20% down and borrow 80% mortgage. That mortgage is called a first mortgage as it is in the first position on the title of your property. If later you borrow more money secured by your house without paying-off the first mortgage, that mortgage is called a second mortgage as it’s charge shows up after the first mortgage on the title of your property. So, the Second mortgage in Canada is when a homeowner already has a first mortgage and wants to borrow more money, in addition and on top of the existing first mortgage, using the equity in his home.


Great News! The government of Canada has sponsored the First Time Home Buyer Incentive (FTHBI) program. This program helps the first time home buyer with additional 5% to 10% interest-free down payment assistance so as to help them qualify. 

The first time homebuyers must have a minimum of 5% down payment from their own resources. They must have good credit and verifiable income.

Call us now to find out more about the first-time homebuyer program. 

Click Here to know more about the government sponsored first-time homebuyer program.

First Time Home Buyer Mortgage


Another option would be to secure a home equity line of credit. With the home equity line of credit, you don’t have to take the whole amount right away, but it is available if and when you need it. Benevolent Bancorp sets a maximum amount of a credit line secured in the first or the second position on your home. In most cases, the minimum amount you can withdraw at any time is $10,000 and the maximum is the limit of your credit line. It works the same way as a credit card. You can pay back and borrow over and over again as long as you stay within the limited amount set by Benevolent Bancorp.


Regardless of your income and credit situation, more than likely Benevolent Bancorp can help you get the mortgage you need and get it at a competitive rate!

Good or Bad Credit
Low credit score
Behind on payments
Debt consolidation
Over extended in credit cards
Income issues
Have not filed Tax Returns
Do not have NOA’s
Owe money to CRA
No income verification programs
Foreclosure/Consumer proposal

Benevolent Bancorp Advantage

It all starts with a loan application. Once you get us your mortgage application we go to work for you and give you a preapproval and a rate quote within 24 hours.

Benevolent Bancorp does First, Second and Third Mortgages. No amount is too small or too big.

Benevolent Bancorp is committed to making the borrowing process quick, efficient, and easy.

Our institutional and individual investor partners provide Residential, Alternative and Private Mortgages.

When we get your application, we strive to get you the lowest possible rate in your particular situation. With our years of experience and knowledge of each and every lender’s underwriting guidelines in Canada, rest assured your application is in good hands.

We know how to build a solid loan package and present your story in a favorable light. We are on your side.

Pre-Approval within 24-Hours

We can provide our clients with mortgage pre-approval within 24-hours of mortgage request submittal.

Funding within 5-7 Days

Because of our streamlined processing and underwriting process, we can fund your Private Mortgage within 5 to 7 days, or even faster in cases of emergencies, after receiving complete application and supporting documents.

Best Rates and Terms

What is best for you is best for us! When Benevolent Bancorp receives your mortgage application, we don’t automatically approve you for a private mortgage. We first try our best to see if you qualify for an Alternative or Sub-prime Lending with much lower rates than the private mortgages.


First Mortgage
Second Mortgage
Home Equity Line of Credit
Land, Construction
Reverse Mortgage


We build a file on your first mortgage with us and use that documentation for future loans. The more mortgages you do with us, the quicker they close!


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Rehab & Flip
You can also fill out our short Contact US form or contact us via our phone: 604-503-9808 or email: