video1.0<iframe src="https://www.loom.com/embed/0e1cd701371946668b0982072c9e7f7f" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/0e1cd701371946668b0982072c9e7f7f-3ce30087504f3bda.gif1770.28This Loom explains Heartwood’s alternative lending criteria, target clients, and loan features for broker submissions. The non-B20 lender operates in BC and Ontario since July last year and plans to launch in Alberta around mid-October to November Q4, offering first and second mortgages and interest-only options with fixed rates and no GDS or TDS, stress test, or stated-income forms. It focuses on income verification through bank statements (typically three months, up to six) with flexibility to use 12 months if available, and it has a minimum credit score of 580 (with possible exceptions). Key product details include up to 75 LTV typically, minimum second mortgage amount around 70,000, max mortgage of 8 million, interest reserves up to 100% (sometimes reduced), and turnaround of about 24 hours or four hours for specific GVA primary-residence cases with credit score 680+. Brokers are asked to ensure submissions include affordability and a clear exit strategy.