Haventree Bank is a Canadian schedule-1 bank that specialises in alternative and near-prime mortgages, working exclusively through mortgage brokers. Founded in 1990, Haventree aims to support hardworking Canadians who may not qualify under traditional bank criteria .
Mortgage Options Available
Haventree offers a wide range of products designed to suit different borrower needs:
- Alternative Mortgages
Suitable for borrowers with bruised credit, self-employed income, or recent unfinished credit matters. - Prime Fixed and Variable Mortgages
For clients with solid credit and traditional income sources. - Rental Property Mortgages
Designed for investors owning one or more rental units. Includes rental income considerations - Refinancing, Renewals, and Switches
Helps homeowners access equity or secure new terms. - EquityLine Visa (HELOC)
A line of credit secured by home equity with Visa convenience and no foreign transaction fees.
Ideal Clients and Use Cases
Haventree Bank is typically a good match for:
- Self‑employed individuals or those with non‑standard income
- Borrowers with credit blemishes or shorter credit histories
- Real estate investors seeking rental property financing
- First‑time buyers seeking alternative lending
- Homeowners looking for flexible refinancing or access to equity
They combine quick digital tools with a personalized approach to underwriting that considers your full financial story.
Key Advantages
- Flexible underwriting for non‑prime and alternative scenarios
- Competitive rates on both prime and alternative products
- Robust broker portal with mortgage calculators and secure document handling
- HELOC convenience with no annual fees or foreign transaction charges
Things to Watch
- All products are available through brokers only; there are no branch walk‑in options
- Lender fees and appraisal costs vary by product type
- Alternative mortgages typically have higher rates and shorter terms than prime loans
- Property type and borrower details can affect eligibility, particularly for rental or investment mortgages
Is Haventree Right for You?
If your application includes less traditional income, credit variations, or investment plans, Haventree may offer the flexibility you need. However, if your credit profile is strong and your income is conventional, a prime lender might offer better features or rates.
As with any lender, success lies in matching the right borrower to the right product. At The Local Broker, we’re here to help guide that decision. Apply for a mortgage or refinance or contact us to discuss whether Haventree or another lender better suits your needs.
