Private Sale in Remote Alberta, no downpayment, financed 100% of purchase price

Request: Finance residential house purchase in small bedroom Alberta community via a private sale. Agreed purchase price well under market value. Applicant has ZERO downpayment and required to finance 100% of the agreed purchase price.

Challenge: Location of dwelling. The need to make sense why vendor would be selling so low under market value. Applicant has no vested interest with no downpayment of any sort. Applicant only 3 months on the job as a courier driver. Applicant has very limited credit all under 1 year but on file since 1978. TDS over 50%


  • DLC agent referred the deal to Plan B on a Monday after attending a DLC Head Office training seminar
  • Plan B communicated with both the referring agent and the applicant directly to ensure a full understanding of the situation and transaction. A strong “makes sense” understanding was required for packing to lenders
  • Application was then presented to 3 private lenders/investors
  • 3 quotes were presented back to Plan B with the winning quote being committed on Friday of the same week of receiving application
  • Signing package was given to the referring broker who signed up the client accepting the approval
  • Purchase agreement, ILA from seller and appraisal were only conditions
  • 1 year term @ 9.75% with a 1.40% lender fee on a 30 year amortization
  • Referring broker to receive 68 bps on a file he would have normally passed on until he attended a presentation of What Plan B is and how it can help your business