Traditionally, mortgage brokers were seen as a resource for borrowers with unique financial circumstances—such as self-employed individuals, those with cash-flow challenges, or credit history concerns. However, even well-qualified buyers with strong incomes and significant down payments are now turning to brokers for expert guidance, sometimes years before making a purchase.
At the same time, alternative mortgage products have gained mainstream acceptance, particularly for short-term financing solutions or bridging gaps in funding. The interest rate spread between traditional and non-traditional mortgages has narrowed as the industry continues to evolve, offering borrowers more competitive options.
A Changing Mortgage Landscape
According to Canada Mortgage and Housing Corporation (CMHC), 48% of Canadian homebuyers used a mortgage broker in 2024, up from 43% in 2023. Additionally, Statistics Canada reports that the total value of residential mortgages held by non-bank lenders has grown by 19% over the past four years, reaching $401 billion in Q3 2024.
This shift reflects the increasing demand for alternative lending options as stricter qualification requirements make it more difficult for borrowers to secure financing from traditional banks. With the rising cost of homeownership and more stringent lending regulations, Canadians are seeking solutions that provide greater flexibility and accessibility.
Why More Ontarians Are Choosing Mortgage Brokers
Mortgage brokers act as trusted intermediaries, providing unbiased advice and access to a variety of lending products. Unlike banks, which promote their own mortgage offerings, brokers work with multiple lenders to find the best solution for each client.
Beyond securing competitive rates, brokers help borrowers navigate key financial considerations, such as stress test requirements, prepayment penalties, mortgage flexibility, and government incentives. This level of expertise ensures that clients receive tailored mortgage solutions that align with their long-term financial goals.
Lendworth: A Leader in Alternative Mortgage Lending
At Lendworth, we specialize in private and alternative lending solutions designed to help Ontarians secure the financing they need—quickly and efficiently. Our equity-based lending approach ensures that borrowers can access funds based on the value of their property, rather than being limited by their credit score.
With a commitment to transparency and responsible lending, we provide fast approvals, competitive terms, and personalized service to help clients achieve their homeownership and investment goals. Whether you’re refinancing, purchasing, or seeking short-term capital, Lendworth is here to guide you through the process with confidence.
Interested in exploring your mortgage options? Contact Lendworth today to learn how we can help you secure the right financing for your needs.