B Lending

Does it make sense to work with alternative mortgage lenders?

B Lenders are alternative mortgage lenders. They look at each and every situation on a case-by-case basis to see if you fit the criteria, but it’s more complicated than that. They take the time to analyze and understand what went wrong in the past. Did you file for bankruptcy? Do you have bad credit? They want to understand why these things happen and to look at the full story. If you are a business owner and you show low income because of all the write-offs you have accumulated in the year, they will look at all the documentation and estimate your real income without write-offs.

This method is there to allow more leeway for the borrower to qualify for a mortgage while being in a “different” situation than most people. If you are self-employed and do not have a lot of years of income to show, they will evaluate and estimate your income based on the standards and regulations of your industry.

Using the services of a B Lender is more expensive than using other services but it does allow you to buy your house even with bad credit. Once your credit/income improves, you can always go back to an A Lender.