Our Resources page makes learning about mortgages simple, fast, and stress-free. Rampone-Marsh Mortgages is an award-winning team recognized for our customer-centric approach. We’re approachable, professional, and here to help you confidently navigate mortgage options and choose the right lender with clarity, ease, and expert guidance every step of the way.
Most of our clients don’t need to come into the office to begin the mortgage process. The fastest and easiest way to get started is to reach out online or by phone, then schedule a quick phone or Zoom conversation with our team. After that, we’ll send you a secure, simple online application that only takes a few minutes to complete.
This approach lets us safely collect your information, review your goals, and start shopping the best mortgage options for you right away — without unnecessary meetings or paperwork. Of course, if you prefer to meet in person, we’d absolutely love to welcome you to our office. We’re always happy to sit down face-to-face.
What We’ll Typically Ask For
Once your application is submitted, we may request a few supporting documents to move things forward smoothly and secure the best rates and terms for your situation:
Having these ready isn’t mandatory on day one, but providing them early can help us speed up approvals and present stronger applications to lenders.
Requirements vary but often include bank statements, Notices of Assessment, ID, and proof of income or equity.
Typically, alternative mortgage rates are:
In many cases, we use alternative lending as a bridge strategy, then move clients back to prime financing once documentation or credit improves.
Private mortgages are sometimes appropriate for:
However, private lending is typically:
We only recommend private lending when it truly makes strategic sense — not as a default option.
Yes. Alternative lenders can help with debt consolidation, payment reduction, and restructuring when traditional lenders decline.
A B-lender is an institutional alternative mortgage lender that provides flexible qualification programs for borrowers who don’t meet strict bank guidelines.
Not dramatically. They are typically modestly higher than bank rates, but significantly lower than private lending rates.
Yes. Many alternative lenders use business bank statements or flexible income programs instead of traditional T4 income.
Yes. Many lenders offer self-employed mortgage programs using alternative income verification such as bank statements or business financials instead of traditional T4 income.
A self-employed mortgage is designed for business owners, contractors, and entrepreneurs who may not show traditional income but still have strong cash flow and financial stability.
Yes. Some lenders allow 6–24 months of business bank statements to verify income instead of tax returns.
Not always. Rates depend on documentation, credit, and equity. Many self-employed borrowers still qualify for competitive rates.
A private mortgage is funded by an investor instead of a bank. It is often used for flexible approvals, short-term financing, or unique situations.
Private lending may be suitable if a bank has declined you, you need quick approval, or you have non-traditional income or credit challenges.
Private mortgages can often be approved within 24–72 hours depending on documentation and property details.
An alternative lender is a financial institution outside of major banks that offers more flexible approval guidelines.
Alternative lenders are institutional lenders with flexible criteria, while private lenders are individual investors offering short-term customized financing.
Yes. There are lenders who specialize in credit-challenged mortgage solutions depending on income and home equity.
Traditional banks prefer higher scores, but alternative and private lenders consider overall financial strength and equity.
Yes. Mortgage brokers have access to banks, credit unions, alternative lenders, and private investors to find solutions others may miss.
Yes. Refinancing options may be available through alternative or private lenders if you have sufficient equity.
Yes. We assist clients throughout Kelowna, Vernon, Penticton, and the entire Okanagan Valley with private and alternative mortgage options.
Most residential properties qualify, including single-family homes, townhomes, condos, and rental properties.
Private mortgages are usually short-term solutions ranging from 6 months to 3 years.
No. Private mortgages are also used by self-employed borrowers, investors, or clients needing fast approvals.
Yes. Private lending can be used for purchases, refinancing, or bridge financing.
Requirements vary but often include bank statements, Notices of Assessment, ID, and proof of income or equity.
In most traditional mortgages, brokers are paid by the lender. Some private or complex files may involve fees, which are disclosed upfront.
We work with clients in Kelowna, West Kelowna, Vernon, Penticton, Lake Country, Peachland, and surrounding communities.
Yes. Alternative lenders may approve mortgages using business bank statements or stated income programs.
Traditional approvals may take several days, while private lending approvals can be completed in as little as 24–72 hours.
A credit-challenged mortgage is designed for borrowers rebuilding credit or recovering from financial setbacks.
Yes. Many private mortgages are temporary solutions used while improving credit or income documentation.
Yes. The advantage is as a mortgage broker, we compare multiple lenders and finds tailored solutions, often securing approvals and options not available through a single bank.
There are several benefits to getting a Pre-Approval before you start searching for your next home.
You can provide as little as 5% of the total price of the home if you have good credit. Even if you have poor credit, we have a network of lenders that are willing to work with poor credit buyers, providing you have a 15-35% down payment.
The brokers at Rampone-Marsh Mortgages provide a higher level of service and see value in knowing our clients. We take the time to present you in the best way to the lenders. We are reliable and have a long history of providing great consistent services to our clients. We are your mortgage advisors. We provide the lowest rates that we can find for all of our clients. Roughly 90% of our business is generated because people who have used our services tell others to use our services. We are locally owned, and connected to large national partners.
Most mortgage lenders allow you to spend no more than 32% of your monthly income on your mortgage, and newer guidelines allow up to 44% of your monthly income for mortgage payments and other debt payments. Our mortgage calculators can help you determine your affordability.
Bridge financing is a short-term loan that helps you “bridge the gap” between selling your current home and buying a new one. It gives you access to the equity in your existing property before it’s officially sold, allowing you to secure your new home without delay. Bridge loans are especially helpful in BC’s fast-moving real estate market. Our expert mortgage brokers will walk you through your options, explain terms clearly, and connect you with lenders who offer competitive rates and flexible terms.
Thinking about buying a home over $1 million in British Columbia? You may need a jumbo mortgage—and that’s where Rampone-Marsh Mortgages can help. A jumbo loan is used when the home purchase price exceeds the amount eligible for CMHC-insured financing. Our team will work with our wide network of lenders—including major banks, credit unions, and private lenders—to help you find the most competitive jumbo mortgage rates.
With rents going up and ever-changing mortgage regulations—from stress tests to minimum down payments – you need professional advice. We’ll create a step-by-step plan to help you decide.
It’s possible. After we analyze your own situation we’ll discuss what possibilities are available to you. However, lenders that deal with non-standard credit usually charge a higher rate than normal bank approved credit.
In a Fixed Rate Mortgage, the interest rate is fixed for a specific amount of time. This period of time (the mortgage term) can range anywhere from 6 months to 10 years. Over the course of the mortgage, less of the payment counts toward interest and more toward the principal.
A Variable Rate Mortgage is one in which your interest rate will fluctuate with the Bank of Canada’s prime lending rate. When rates go up, a larger portion of the payment goes toward interest. When rates go down, more of the payment goes toward the principal.
A mortgage broker helps to facilitate the mortgage transaction between you and a lender. A mortgage broker offers advice, options and choice. They search for the best mortgage product and interest rate from a broad network of lenders and financial institutions.
Typically there is no charge. Our fee is paid by the lenders we secure your mortgage through, not you. In special “credit-challenged” circumstances, depending on the length and amount of the loan, we may have to charge a fee. However, we don’t charge our clients in the majority of cases.
Pre-payment typically allows you the following privileges:
Yes! Some lenders use your stated income only to qualify, on approved credit. You still get favourable Canadian mortgage lending rates and, depending on the lender, could get up to 90% financing. Simply complete your Kelowna mortgage application today!
Nope! There are different types of mortgages, like vacation and rental property mortgages or construction mortgages that are ideal for supporting personal investments or business expansion. Even in Kelowna’s medium-sized community, we regularly get asked about mortgages for business purposes, so if you’re looking for lending to support something other than a home purchase, we can help recommend a suitable mortgage.
Unlock the value of your home with a reverse mortgage from Rampone-Marsh Mortgages, your trusted reverse mortgage experts in Kelowna, BC. A reverse mortgage lets you access tax-free cash from your home’s equity without selling your home. It’s an excellent solution for retirees looking to supplement their income to cover expenses, travel, or enjoy life to the fullest. Our experienced team offers personalized advice on reverse mortgage options from multiple lenders, ensuring you get the best fit for your needs. Based in the heart of the Okanagan, we make it easy to retire comfortably and stay in your home longer.
Don’t wait – secure your retirement with our expert reverse mortgage guidance today. Call us today!
Homeowners must be 55 or older and live in a province of Canada, the appraised value of their home must be at least $150,000 and the secured debt must be less than the reverse mortgage lending amount they are approved for.
There’s no guarantee that it’ll be cheaper, but the better mortgage rates available through a broker can certainly translate into a lower monthly mortgage payment compared to what you’d get from the big banks. Here in Kelowna, we often help our clients get better mortgage rates than the retail rates offered by their banks. So, if you’re looking for a mortgage in Kelowna, take the time to contact us and get access to the best rates!
There are one-time fees for arranging a reverse mortgage, such as the appraisal fee, fee for legal advice, and fee for administration and registration.
Beyond that, there are no monthly payments required as long as the homeowner continues living in the home.
That’s ok! Reverse mortgages are commonly used to supplement income or pay off expenses such as an existing mortgage.
You will retain full ownership and title of your home, though you are expected to live in the home and maintain the property, staying on top of property taxes and insurance.
Regardless of mortgage rates, if a down payment is less than 20% of the home or property value, mortgage insurance is mandatory in Kelowna (and across Canada). Mortgages have built-in insurance premiums, so, therefore, the clients do not pay “out of pocket” for this expense. For mortgage lenders, a down payment of this size is more of a risk, so the mortgage insurance premium acts like a guarantee in the event of a default on the loan.
Mortgage life insurance provides coverage that would pay off in the event of death or disability of the home owner. Contact our office in Kelowna for more information and to find out about your mortgage life insurance options.
Depending on your mortgage lender, yes. Most lenders are now offering options that allow you to take (or “port”) your mortgage with you. Typically you will not be assessed additional fees if the possession period between your old and new home is 60 days or less.
It does! With a monthly mortgage, you’ll make 12 regular mortgage payments annually. When you pay bi-weekly, you’ll make 26 half-payments, amounting to 13 regular mortgage payments annually.
That might not sound like much, but it adds up. A bi-weekly payment schedule could make you mortgage-free years sooner, saving you thousands in interest payments to boot!
Our bi-weekly payment calculator can give you more details.
Every conventional mortgage that includes a minimum 20% down payment requires an appraisal because the mortgage is uninsured. The lender wants to see that your purchase price is in line with the property’s fair market value. Lenders want to see that you are purchasing a quality property and that they will be able to recuperate the full amount if you default on the loan.
Yes. In fact, this is a common use of a mortgage loan. Many of our customers obtain a mortgage to consolidate credit card debt, renovate their kitchen, or invest.
Rampone-Marsh Mortgages works with homebuyers and homeowners from many walks of life.. These clients include:
We deal with Canada’s top lending institutions, such as Scotiabank, TD, MCAP, and First National, just to name a few. We only work with accredited and reputable mortgage lenders.
Yes, the amount of inquiries to your credit bureau report can affect your credit score. One of the advantages of using The Mortgage Centre – BC Direct Mortgages is that we check your credit bureau report only once, and we are able to take your application to more than one lender without doing multiple credit checks.
No, lenders simply require a void cheque to take the payments from your existing bank account.
If we are able to get the necessary documentation, we might be able to get an approval in as little as 24 hours. Keep in mind, the longer it takes for us to receive your documents the longer your approval will take to secure. Take a look at our mortgage checklist, for a summary of what you’ll likely need to provide.
The amount of financial interest in a property. Equity is the difference between the fair market value of the property and the amount still owed on the mortgage.|
An earnest deposit is a sum of money given to bind the sale of real estate, or a sum of money given to ensure payment or an advance of funds in the processing of a loan.
In most cases, the answer is yes. However, the funding must be from a family member. There are certain circumstances in which you cannot use gifted funds. For example, your mortgage product may have a limit on the percentage of the down payment that can be gifted. Rampone-Marsh Mortgages can find out if your gifted funds can be applied to your down payment.
Neither! A mortgage broker has a portfolio of lenders they work with to meet their clients’ mortgage needs. That’s one of the chief reasons brokers help their clients get better deals – unlike banks or other financial institutions, brokers are looking to help you get the best deal on your mortgage, not fill up a target mortgage product quota.
You get to choose how you want to receive the money, either in one lump sum or through planned advances over a set period of time.
