Let’s Us Help With
Your Bad Credit
While most lenders and banks will not be receptive to helping you find mortgage financing for purchasing a home, our access to 30+ lenders from banks to non-traditional financiers can help you get that mortgage you are looking for.
Contact us today to get started
Qualifying for a Mortgage with Bad Credit
If you have had an event in the past affecting your credit score, such as bankruptcy, foreclosure or collections notices; and have recovered from this – then you’re likely in a situation where you have the income but not the credit score. Most ‘A’ lenders will look for a credit score above 680 to consider your mortgage application; this may have even more examination from mortgage insurers such as CMHC and Genworth who are even stricter.
We advise that having a 20% down-payment available is much to your advantage. However, if you do not, there are alternate solutions that can help you get past the strict requirements of mortgage insurers. We also have access to lenders that give fast approvals if we can prove your income and ability to pay down your mortgage. The credit score becomes less of an issue once steady income can be proved.
Consider the below and contact us to get a conversation started:
- How much debt do I have?
- How much income can I prove?
- How much down payment can I put in?
Our business is to find the right financing for your bad credit mortgage needs in Oakville. Contact us today and let’s get the process started!
Mortgage Renewal with Bad Credit
Bad credit can also cause issues if you’re looking to renew your mortgage. If your credit score has slipped far below what it used to be when you got the mortgage, you may have issues renewing your mortgage as the original lender may turn you down. *Contact us to learn about mortgage refinancing*.
Mortgage Refinancing to Fix Bad Credit
If you already have a mortgage and have bad debt, consider refinancing your mortgage to extract some equity to pay down debt and thus raise your credit score. There are several solutions to help our Oakville clients consolidate debt through refinancing, despite bad credit. *Contact us to learn more here*