DUCA (Near Prime)
Ontario alternative lender with near-prime, bruised-credit and self-employed programs; scores from 500 up, uninsured LTV to 80%. It lends Ontario.
Prepayment-penalty method
Posted-rate penalty (can be costly)
Breaking a fixed term early is penalized using the posted-rate method, which can cost thousands of dollars more than a fair contract-rate penalty. Worth weighing carefully if there is any chance you will move, refinance, or renew before the term ends.
See what breaking a mortgage early could costWho it tends to fit
- Self-employed and business-owner borrowers
- Buyers of rental or investment property
- Borrowers with bruised or lower credit scores
- Refinances and equity take-outs
General signals only. Approval depends on the full application; a lender that fits on paper still has to say yes.
What you can do with it
- Buying a home
- Renewal or switch
- Refinancing
Features
- Interest-only payment option
- Portable (move your mortgage to a new home)
Rate types
- Fixed rates
- Variable rates
Where it lends
Ontario
Good to know
- Fixed-rate prepayment penalty can use IRD against the lender's posted rate, which runs larger than a contract-rate calculation
- Bruised-credit deals capped at 65% LTV
How to reach DUCA (Near Prime)
Available only through a licensed mortgage broker, not directly to the public. This is educational information, not a rate quote; confirm current rates and terms directly.
Visit DUCA (Near Prime)Educational summary; rates, terms, and approval are set by the lender.
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Other alternative (b) lenders
Educational information about Canadian mortgages, not financial or mortgage advice. This tool is offered by Jordan Avery, Mortgage Agent (Level 2), Licence M23999999 · Maple Key Mortgages Inc., FSRA Brokerage Licence 13999 and operated by LenderSearch; figures are estimates. Confirm all rates, terms, and eligibility directly with the lender before acting.