T
Trevor M.
★★★★★
Two banks turned me down because I'm self-employed. No T4s, no easy story. Lighthouse came back inside 24 hours with an approval from a credit union that actually understood my business.
Bad credit, self-employed, or turned down by the bank? Banks say no. We say yes. Licensed Ontario broker, approvals in 24 hours.
Read this part carefully.
Stricter stress tests, tighter income rules and a credit-score-or-nothing approach have left thousands of Ontario homeowners turned down by their own bank, even with equity in their home. That gap is exactly what credit unions and alternative lenders are built for. We just shop them on your behalf.
A "no" from one bank is not a "no" from the market. We shop the rest.
Honest illustration based on current Canadian numbers. Your real result depends on your lender, mortgage size, equity and the kind of mortgage that fits your situation.
*Assumes a Lighthouse-sourced rate of 3.35% vs. your current rate. Your final rate depends on credit, mortgage size, equity and lender. Disclosed in writing 2 business days before signing. Illustration only, not a binding offer.
Quick, stress-free, and built around your situation. Most clients hear back in 24 hours.
Fill out the quick form with your property details and what you're trying to do. Takes about 60 seconds.
We match you with the right lender for your situation and handle the paperwork. Approvals in as fast as 24 hours.
Start saving on your monthly payments and fund the goals we helped you work towards.
Same homeowner ($400K mortgage, 25 years left on amortization, 5-year fixed term) running each option at today's rates.
| Feature | Stay with your bank | Apply at a new bank | Consumer proposal | Lighthouse mortgage |
|---|---|---|---|---|
| Works with bruised or limited credit | ✕ | ✕ | ✓ | ✓ |
| Works without T4 income docs | ✕ | ✕ | ✕ | ✓ |
| Approval in about 24 hours | ✕ | ✕ | ✕ | ✓ |
| Keeps your credit score intact | ✓ | ✕ | ✕ | ✓ |
| Rolls high-interest debt into the mortgage | ✕ | ✕ | ✕ | ✓ |
| Compares every major lender for you | ✕ | ✕ | ✕ | ✓ |
*Illustrative. Real terms vary by lender, credit, and amortization. All disclosures provided in writing 2 business days before signing per FSRA rules.
Banks, credit unions and alternative lenders across Canada. Why settle for one bank's offer when we shop the whole market for you?
Roll high-interest credit cards, car loans and other debt into one lower monthly payment. Our clients typically save hundreds per month by consolidating.
Banks say no? We say yes. We work with B-lenders, sub-prime lenders, alt lenders and private MICs that look beyond credit scores. Bruised credit, missed payments, past consumer proposal. We have solutions.
Self-employed? No proof of income? We specialize in non-traditional mortgage solutions for borrowers banks turn away. Your home equity is what matters most.
Don't wait weeks for an answer. We streamline the application process and handle the paperwork so you can get approved faster than going through a bank.
Our licensed mortgage advisors walk you through every option, fee and term. No jargon, no hidden surprises. Clear advice from Ontario's top-rated brokerage. FSRA Lic. #13301.
4.9/5 · 192+ reviews
Two banks turned me down because I'm self-employed. No T4s, no easy story. Lighthouse came back inside 24 hours with an approval from a credit union that actually understood my business.
We rolled $52,000 of credit card debt into our mortgage. Our minimum payments alone were $1,250 a month. New payment is $710. Same money, different math.
Past consumer proposal made every big bank a wall. Lighthouse came back with three options inside a day. Funded on the second one. No drama, just a plan.
Retired on a fixed pension. Bank wanted full income docs we don't have. Lighthouse found a lender that underwrote on equity. Approved on a 3-year fixed without the income hoops.
I had given up assuming nobody would lend to me. One quick call and they had options on the table the same day. Funded two weeks later. I should have called sooner.
Construction business, irregular income, late payments two years back. Three lenders said no. Lighthouse found a fourth that said yes the same week. Honest pricing all the way through.
Outcomes vary. Names abbreviated for privacy. Quotes paraphrased from Google reviews and case files. Your own quote, rate, and savings depend on your situation.
One licensed Ontario broker, start to finish. No call centres, no chatbots, no handoffs. A real person who knows your file.
Banks, credit unions and alternative lenders compared on your behalf. You see the options that fit, not just the ones from a single bank.
A regulated Ontario brokerage (Lic. #13301). Every document and every step in writing, per Ontario rules.
A mortgage variation takes a few weeks to put in place, not days. The sooner we understand your situation, the sooner the right consolidation, refinance, or new mortgage can actually start working for you.
Checking your options takes about 60 seconds. A licensed Ontario broker reviews your situation and comes back with the lenders that actually fit. Calm, in writing, no pressure.
Pretty much anything secured by your home. Refinances, debt consolidation, renewals, 2nd mortgages, HELOCs and equity take-outs. Mortgages for self-employed borrowers and mortgages for clients with bruised credit. One licensed Ontario broker and one quick call covers all of them. We figure out which one fits your situation.
Yes. Banks lean heavily on credit scores. The B-lenders, sub-prime lenders, alt lenders and private MICs in our network look at the full picture, especially your equity and ability to make the new payment. Past consumer proposal, missed payments, even recent bankruptcies can be worked with. Many of our clients were turned down at a bank and still funded through one of these alt-tier lenders.
Yes. We specialize in no-income-verification programs for self-employed homeowners, contractors and people with non-traditional income. These lenders underwrite on home equity and cash flow, not T4s or notices of assessment. Ideal for business owners, freelancers and anyone whose income story doesn't fit a bank's spreadsheet.
We refinance your existing mortgage to pay off your high-interest debts (credit cards, car loans, lines of credit) and roll them into a single lower-rate mortgage payment. Credit card interest at 19.99% becomes mortgage interest closer to 5%. One payment instead of five. Most clients see their total monthly outflow drop by several hundred dollars on day one.
Most clients have a conditional approval within 24 hours. Full funding (appraisal, lawyer, paperwork) typically takes 2 to 4 weeks. We handle the lender coordination so you're not chasing five different inboxes.
Not necessarily. A real offer from a competing lender often gives us the leverage to bring your current bank's number down. Many clients stay where they are, with terms they would never have been offered on their own. Either way, you only move forward when the numbers and the lender make sense to you.
Lighthouse is a licensed Ontario mortgage brokerage (FSRA Lic. #13301). A bank can only sell its own products. We compare dozens of lenders, including major banks, credit unions, trust companies and alternative lenders, to find the one that fits your file. For most clients our service is free because the lender pays the broker fee. If a fee ever applies to you, it's disclosed in writing 2 business days before signing.
In Canada, mortgage lenders sit in tiers. A-lenders are the big banks and major credit unions. They offer the lowest rates but the strictest credit and income rules, so they say no to a lot of self-employed and bruised-credit applicants. B-lenders (also called sub-prime or alt lenders) are regulated trust companies and second-tier banks like Equitable, Home Trust, MCAP and CMLS. They underwrite on the full picture, not just credit score, and accept self-employed income, recent bruises and higher debt ratios. Private lenders and MICs (Mortgage Investment Corporations) are the next step beyond that, for short-term bridge situations, very low credit, or unusual properties. Rates rise as you move down the tiers, but so does what's possible. We sit across all three so we can match you to the right tier on the first call.