B2B Bank

B2B Bank is a Schedule 1 Canadian bank. They provide services to over 27,000 financial professionals, covering a wide range of business sectors. Financial advisors and dealerships, mortgage and deposit brokers, mutual fund and insurance manufacturers all make use of B2B Bank’s services.

B2B Bank price their products to be competitive for both financial professionals as well as their clients. They try to provide leading offerings across all their product suites, such as loans, mortgage, savings, and investment accounts.

When it comes to mortgages, B2B bank strives to offer access to a complete portfolio of mortgage solutions, a wide range of qualifying credit criteria, and options for traditional to non-traditional borrowers as part of their unique broker-focused service model. This is what the call the “B2B Bank advantage”.

B2B Bank tries to offer market leading prices for all their products while keeping them at a standard that is acceptable for all clients, from everyday people to other large businesses and financial professionals. You can find all their rates and products on the B2B Bank site.

LAs you can imagine of a Bank that offers products to as wide a range of clients as B2B Bank, they have a lot of different mortgage offerings. Especially for individual borrowers. Some of the products available are:

• Insured – up to 95% LTV: The first solution under this type is for self-employed borrowers with a 5% down payment on a property that is for use as income through the CMHC. The other is someone with a “Business for self” profile on an Investment property, Vacation Home or Secondary home through Genworth.
• Conventional – up to 80% LTV: This option is for well-qualified borrowers that have made 20% down payment. It’s for the “Business for self” borrower profile on a secondary/vacation home or rental property. It also includes some special program such as Cash back and Home Equity Line of Credit.
• Expanded – up to 80% LTV: For those borrowers who made a 20% down payment but are not as qualified on paper. It covers a wide range of borrower profiles on vacation or secondary homes and rental properties.
• Alternative – up to 65% LTV: This one requires at least a 35% down payment as it is for borrowers with a less than stellar credit record or history. It also covers a wide range of borrower profiles on vacation/secondary homes and rentals.

Each of these products has various terms and rates that you can qualify for depending on your eligibility as a borrower.

B2B Bank offers a wide range of products and services that span loans, investment accounts, saving solutions, and RSP (Retirement Savings Plan) loans.

As a bank that provides mortgage products to brokers, you need to get pre-approval through the specific broker that you want to apply for the mortgage through.

• Initial
• Personal
• Employment
• Assets & Liabilities
• Subject Property

The exact application process will not only include all of the above information but a lot extra too including information specific to the mortgage such as the:

• Mortgage amount
• Purchase price
• Property type
• Builder (if applicable)
• Annual property taxes

• Purpose (e.g. purchase, refinance, transfer)
• Down payment
• Dwelling style
• Property address

The specific requirements will also depend on whether you are applying for a new mortgage or refinancing an existing one.

Find out more Canadian mortgage lenders: B2B Bank, Laurentian Bank, Tangerine, Street Capital, Scotiabank and others.