01
Identify the challenge
Variable income, credit issues, unusual properties or urgent timelines can require a different approach. Start by identifying what prevents a standard approval.
02
Compare all costs
Alternative and private financing may involve higher interest, lender and broker fees, shorter terms and different renewal conditions. Review the amount you receive after costs.
03
Plan your exit
Before committing to short-term financing, identify how it will be repaid or replaced. A hoped-for increase in property value is not a complete repayment strategy.
Bring to your conversation
- Income and credit background
- Property and existing debts
- Repayment or refinance plan
General information only. Product availability, eligibility and conditions vary by lender and application.