Category: bad credit mortgage

Is a Private Mortgage Better Than Bank Mortgage? In recent years, the cost of living in Canada has risen alongside interest rates, creating challenges for many potential homebuyers. As major banks tightened their lending standards, obtaining needed financing became increasingly difficult for Canadians. As a result, private lenders gained popularity. Both traditional bank loans and… Continue reading Is a Private Mortgage Better Than Bank Mortgage?

How Long Time Take to Get a Mortgage Approval? What is the Timeline for Mortgage Approval? In Canada, the mortgage approval process can take anywhere from a few days to several weeks. While the timeline can be uncertain, you can influence the duration of the process. Factors such as market changes, the lender you choose,… Continue reading How Long Time Take to Get a Mortgage Approval?

If your credit score is considered poor, several strategies could enhance your chances of getting approved for a mortgage.   Increase Your Down Payment   Typically, Canadian lenders require at least a 5% down payment, but this can differ based on the home’s price. If you have bad credit, you may need to put down… Continue reading How to get a Mortgage with Bad Credit