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About Alternative Mortgages
The emergence of the non-conforming market in Canada is the fastest growing segment of the mortgage market. This portion of the market is currently exceeding 50% annual increase. Over the next 5 – 10 years, innovation in the mortgage market will accelerate at a pace not seen before in Canada. In this market, Abode is uniquely positioned to offer alternative mortgage solutions to all families in Canada.
Today’s market includes more self-employed entrepreneurs, more contract employees versus full time employment and more new immigrants or non-residents. Canada is an attractive investment for many savvy national and international entrepreneurs. All of these examples serve to strengthen the need for non-conforming mortgage products.
A large part of the mortgage market today does not place great value on having a clear title home, but, rather places increasing value on better managing and integrating a mortgage into their overall financial and investment plan.
The non-conforming market, at 5% of new mortgages, is still small in comparison to markets in the US, the UK and Australia. Given the current environment of shrinking margins in the prime market, entrepreneurial borrowers, and the importance of the mortgage broker, the non–conforming market is set to expand. Abode will be an important part of that future growth in Canada.
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