NPX
NPX is a subsidiary of Merix Financial, founded in 2005. NPX is the alternative branch of Merix and Lendwise, and offers innovative solutions.
In 2021, MCAP Financial (the 6th largest financial institution offering mortgages after the Big 5 Banks, and the largest monoline in Canada) acquired Paradigm Quest, a monoline lender who is also the parent company of Merix/Lendwise/NPX.
NPX - Synonymous with More borrowing power. Less stress.
Thinking of Using NPX? Here's What You Really Need to Know…
NPX is for people who don’t qualify at a bank but still deserve a decent mortgage. Think: business owners, rental property buyers, people with income that looks weird on paper, or those hit by the stress test.
If a bank said “no” because of how you earn money, how much debt you carry, or how your rental income is treated, NPX might say yes.
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Business owners or freelancers who can’t show enough income on paper
Real estate investors who need rental income to qualify
Homeowners renewing from a private mortgage
Borrowers hit by the stress test at the bank
People with strong equity but damaged credit
Clients looking to borrow more than $1M but still get fair rates
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Clients needing CMHC-insured (high ratio) mortgages
First-time buyers with zero down and no paper trail
Borrowers with extremely poor credit and no income
People expecting bank-level rates without bank-level paperwork
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Currently, NPX only lends in Alberta, Ontario and British Columbia.
However, some NPX solutions (like XTEND and EXACT) only work in Ontario. XTREME covers Ontario & BC. If you’re elsewhere, ask for alternatives.
It’s clear there’s a preference here for Ontario, so good to check. -
Oui. Yes. Both.
NPX offers full bilingual servicing across Canada in English and French - making life easier for borrowers and brokers alike. -
NPX has four core product lines, each built to solve a specific problem:
XTEND – Maximize qualifying by using extended GDS/TDS, rental offsets, and stated income. Skip the stress test and qualify at contract rate.
AXIS – The standard go-to for business-for-self, rental, or complex income. Flexible ratios and qualification methods.
EXACT – A no-nonsense contract-rate product with black-and-white guidelines, available with or without lender fee.
XTREME – Tailored for self-employed and commissioned borrowers who need non-traditional income documentation.
See below for more details on each program!
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XTEND is NPX’s most powerful product for clients who need to qualify for a bigger mortgage. It lets you skip the stress test and use more of your income (and rental income) to qualify.
Best for:
People who don’t qualify at a bank
Borrowers hit by the stress test
Real estate investors using rental income
Key Features:
Qualify at contract rate (not benchmark)
Up to 80% LTV for owner-occupied / 75% for rentals
50/50 GDS/TDS allowed
Rental income: 80% offset, suites: 100% add-back
Accepts stated income for self-employed
Minimum credit score: 540+
Loan amounts up to $1.2M
Available in Ontario only
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AXIS is for borrowers with high debt ratios or tricky income — whether you're self-employed or just don’t look perfect on paper. It works with extended ratios and lets you use rental or suite income to your advantage.
Best for:
Business owners or commission earners
Rental buyers with high personal debt
People who need flexibility but don’t want private rates
Key Features:
Qualifies at contract + 2%
Up to 80% LTV (owner-occupied or rental)
GDS/TDS up to 50/50
Rental income: 80% offset, suites: 100% add-back
Self-employed income via 12-month bank statement method
Minimum credit score: 500+
Loan amounts up to $2M
Terms from 1–3 years
Available in Ontario
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EXACT is for strong borrowers who want a simple, black-and-white mortgage that still lets them qualify at contract rate. Think of it as an A-lender style mortgage without the stress test.
Best for:
Employed or self-employed borrowers with clean credit
Homeowners with strong income and down payment
Clients who want simple guidelines and flexible options
Key Features:
No stress test – qualify at contract rate
Up to 80% LTV
30-year amortization
GDS 39% / TDS 44%
Non-subject rental income: 80% offset
Available in Ontario only
Owner-occupied properties only
Fee and no-fee versions available
Minimum credit score: 640+
Loan amounts up to $1M
Terms from 2–5 years
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XTREME is designed for self-employed borrowers, contractors, and commission earners who can’t prove income the “bank way.” It’s a near-private solution without private rates.
Best for:
Freelancers, consultants, or contractors
Business owners with lots of write-offs
Borrowers who need stated income + flexibility
Key Features:
Stated income accepted (with supporting docs)
Qualifies at contract rate
Up to 75% LTV for owner-occupied or rental
Suite and rental income: 90% offset
Minimum credit score: 580+
Loan amounts up to $3.5M
1-year ARM term
Available in Ontario & BC (GTA/GVA only)
1.5%+ lender fee (can be capped into the loan)
Gifted down payment accepted
Holding companies allowed for rental purchases
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NPX offers anywhere from 1 to 5 year terms, both fixed and variable, as well as interest only options. What you’re able to get depends on the product you’re working
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Quiz Time! What NPX product is best suited for you?
What makes NPX Different?
They Don’t Use the Stress Test (on some products)
That means you can qualify for a larger mortgage than you would at a bank. Not every product skips the stress test, but some do, especially their XTEND and EXACT products.They Understand Self-Employed Income
If you’re a business owner who doesn’t show all your income on paper, they won’t punish you for writing off expenses.They’re Friendly to Rental Properties
Most NPX products allow you to use rental income to qualify. Some even use up to 95% of it.They Accept Lower Credit Scores
Some products go as low as 500–540. That doesn’t mean they approve every deal, but credit alone won’t disqualify you. They want to know the story as to why your credit score got where it is, and what’s being done to mend it - and how NPX fits into the game plan.There’s Usually a Lender Fee
Expect a fee of 1–1.5% added to your mortgage, sometimes even more. This is common with “non-prime” lenders. Some products (like EXACT) have no-fee options - but between you and I, there’s no such thing as a free lunch. They’ll recoup the fee through a higher interest rate. Unfortunately, that’s how it works in the alternative space.Documentation Is Still Important
You don’t need to prove your income the traditional way, but you do need paperwork - bank statements, job letters, appraisals, etc. to get things across the finish line. It’s not a “write a number on a piece of paper, and expect the commitment tomorrow” - so expect to be able to produce documentation supporting your mortgage application.
Is NPX the smartest move for your mortgage?
I’ll help you find out — no guesswork, just answers.
📞 Contact & Tools: Everything You Should Know About NPX
No brick-and-mortar branches. No waiting in line. Just streamlined, digital-first service backed by one of Canada’s largest non-bank lenders.
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Monday to Friday 8:30 am to 8:00 pm (EST)
NPX does not accept mortgage applications directly from clients - they work exclusively through brokers (like me!). That means if you're wondering whether their rates, products, or flexibility are the right fit for your next move…
👉 Let’s talk first.
I’ll help you navigate their offerings and see if First National’s the smart choice for your situation - or if another lender can beat them at their own game.
Want to know if NPX is the right fit for you?
Let’s chat!
