Mortgagenomics Canada

If the banks say no, what is your Plan B? (and yes, there is also a Plan C)For most Canadians the end game to qualifying for a mortgage is landing with one of Canada's Prime lenders (also known as the Big 5 or 6). And along with that comes the satisfaction of defeating/fulfilling the sometimes (or more like, everytime) extraneous qualification guidelines and eligibility criteria. But at the end of the day, it's totally worth it as you can boast about the great interest rate you were awarded and the exclusive membership to Canada's growing homeowner club.But what if the pathway to the Prime lenders is not successful for you, what then?Well, if all else fails, there is always a Plan B (and there is a Plan C too). But let's talk about Plan B first...I like to refer to Plan B as "BandAid" mortgages. They are typically 1 year terms (and also available as high as 3 year terms). They are fully renewable and feature most, if not all of the typical features and terms you would expect to see in a Prime m