A Consumer Proposal? No Problem.

Have a borrower with a consumer proposal in their history? No problem…

A Borrower with a Consumer Proposal in their history, whether discharged or not, can provide an opportunity. Specifically, an opportunity for brokers who work with alternative lenders.

Although these borrowers are typically turned down by conventional lenders, they are often excellent clients for us.

But how can a borrower in this situation be an excellent client?

Because the very fact that they didn’t claim bankruptcy speaks volumes to alternative lenders. They instead chose to use a Consumer Proposal to work themselves out of a bad situation. And that tells us, as alternative lenders, a lot about their character and the type of person they are.

There are a couple of things to keep in mind for brokers when working with borrowers with a consumer proposal. Here are two important tips:

First, get to know which lenders will take these deals (lenders like Kokanee Mortgage).
Second, when you’re meeting with the borrowers, ensure you get copies of all documents related to the consumer proposal. The Consumer Proposal documents will inevitably want to be seen by the lender.

That’s it! Besides those differences, deals like this are generally just a typical alternative lender deal.

If you have good clients who just need a hand-up after a bad financial situation, contact the underwriters at Kokanee Mortgage. We understand and are able to examine a file from all angles. It isn’t about our borrowers fitting into a box, we craft lending solutions that work for our borrowers and their unique situations. We lend to the people behind the paper. And after over 40 years in the lending industry, we have the knowledge and experience to find the solution. If your borrower needs a unique approach, contact the experts at Kokanee Mortgage. We’ll make it happen.