There are obviously dozens of banks in Canada. Equitable Bank and Home Trust are two of many organizations that cater to clients with a “B” credit rating.
These institutions allow customers to skip one or more of the components that big banks seek for in a customer, but they compensate by charging higher interest rates. In brief, they help people who might not be able to get a mortgage from one of Canada’s major banks because they do not have good credit history or a steady income (recent immigrants, or the self-employed).
B lenders also take the property being acquired into account when calculating the risk of default.