Scrabble letters on a wooden surface highlighting Vendor Take-Back Mortgage Options

When Can a Vendor Take-Back Mortgage be Useful?

Matthew Jackson Mortgage Tips

Non-traditional mortgage options are becoming more popular these days following mortgage insurance and qualification changes. Implemented by the federal government, these changes have made it increasingly difficult for many Canadians to buy a home, particularly first-time homebuyers. One such option is a vendor take-back mortgage (VTB). With this solution, the seller extends a loan directly to the buyer. A VTB …