With Bad Credit, part of the mortgage approval process will involve the lender looking at the prospective property before making their decision. If you fall into this category, you may need to put an Offer to Purchase a property with the condition that you obtain financing. Once we have the Offer of Purchase & Sale, we can discuss your situation with a lender. It is very likely that we'll be able to help you obtain financing though our network of alternative mortgage lenders.
We work personally with the lenders to get your application approved!
Don't let past mistakes keep you from buying a home. Sometimes circumstances arise and you find yourself struggling to pay the bills. Your credit report only tells part of the story. Take control of you credit and work with your mortgage broker, and get the home you deserve.
Even if you have had credit difficulties or a bankruptcy, this won't automatically disqualify you from owning a home. There are lenders that will look at your situation on an individual basis and we'll be able to obtain a mortgage approval for you
Need help repairing your credit but don't know where to start?
Contact us to discuss your situation. There is hope! We can help you design a budget and start on the road to rebuilding your credit.
If your credit has been tarnished in the past, you will need to re-establish your credit in order to be considered for a high ratio mortgage. The easiest way to get your credit rating back on track is to obtain a credit card. Use it wisely and make sure you pay the minimum payment each month. This will prove to prospective lenders that you are financially responsible.
Our 2nd Mortgage Program
Rates:
Following is a general idea. All deals are assessed on case to case basis. Rates and fees are for GTA ONLY!
LTV upto |
Rates from |
Fees from |
Details |
| 90% |
12% |
10% |
No inhouse appraisal required. Income/ Credit check needed for pricing only. Deal must make sense! |
| 85% |
12% |
2% |
Appraisal required. Income/Credit check needed, for pricing only. |
| 80% |
8.99% |
2% |
Appraisal required. Income/Credit check needed but not relevant, for pricing only. |
| 75% |
6.99% |
2% |
No inhouse appraisal needed. Credit check . Income verification required but not relevant, for pricing only |
Lending Area: FROM Bowmanville TO Milton, NORTH to Orangeville and Newmarket. OUTSIDE this area our Investors will consider CASE TO CASE.
Appraisal Companies we accept:
Crosstown Appraisal: 416-652-3456
All Realty Appraisal: 416-630-5800
Appraisal 2000: 416-749-0008
First Mortgages:
Upto 90% LTV with an interest rate of 6.99% for one year. Lender fee starts from 1%.
Commercial Mortgages:
Please call for rates and fees.
Lending Area: All of Southern Ontario. Deals in Northern Ontartio considered on case to case basis.
