Need a mortgage but have Bad Credit? Don’t worry We’re here to open doors for you!
Ready to take the next step? Get your appointment with us today and find the best mortgage deals for your needs!
Need a mortgage but have Bad Credit? Don’t worry We’re here to open doors for you!
When looking for a mortgage, having bad credit can be rather stressful. There will be a lot of complications when you plan for property ownership or any other big purchase. And it is easy to get discouraged about the idea of getting a home if you are constantly rejected on the basis of poor credit. But there is a solution. So, even when your credit is not ideal, not the best like your peers, bad credit mortgages are a good solution to start on the property ladder.
The most common reasons of bad credit include missing credit card payments, late mortgage payments, and other financial irregularities including high credit card debt, unpaid mortgages, having a consumer proposal or prior bankruptcies. If your credit is bad, banks and other lenders are likely to deny you a loan because they will think you are not as responsible with money as people who have good credit histories.
But even with a bad credit history, it is still possible to get a loan or mortgage, but the terms won’t be as favorable as they would be for someone with excellent credit. If you have a good credit history, you will probably be offered a better interest rate because it has a big influence on the conditions and prices of mortgages that you are offered.
Bad credit mortgages help individuals with less-than-perfect credit with –
Wondering whether you can get a mortgage despite having bad credit? The answer is yes, provided you have the right assistance and direction. Bad credit may make traditional lenders hesitant, but when you turn to us, our mortgage options are made specific to your requirements. As an expert in mortgages, we recognize that a person’s credit history does not determine their financial destiny. Generally speaking, a score of less than 503 is considered as bad credit. However, it is important to realize that different lenders could use different criteria to evaluate applicants’ creditworthiness. We can help you get your financial course ready with expert advice.
To find out more about your eligibility, get in touch with us right now.We can assist you in overcoming the challenges you have when applying for a mortgage when your credit isn’t great.
We design mortgage plans that can accommodate your specific financial preferences and aspirations.
Swift and efficient processing to get you approved in no time.
Access to 50+ lenders ensures you get the best possible rate.
Custom mortgage plans designed to meet your unique needs.
An initial chat to understand your financial goals and needs.
Gathering the necessary financial documents to support your application.
Submitting your completed mortgage application to the lender.
Getting your mortgage funded and closed.
Lenders and borrowers are connected through mortgage brokers. Whenever it comes to navigating the difficult calculations and policies of mortgage, people look for the experts of mortgage. This is simply because the majority of borrowers would rather use a mortgage broker’s experience than getting it done by themselves.
It is a dream for many to own a home of their own. However, given that consumer debt in Canada is at an all-time high, many people would be concerned that it is unachievable. But, when you reach out to the experts, they will give you a positive response that depending on your circumstances, yes it is possible to get a mortgage even when in debt.
Every decision we take – which can be as simple as an everyday supermarket purchase or a home ownership, inflation affects everything. If you are thinking about buying a home in Canada, or you already own one, you should know how inflation can impact mortgage rates and payments. Trust Yesha Patel, one of the most reputed mortgage agent in mississauga , who can help in understanding how to take decisions regarding inflation.
Find answers to your frequently asked questions about residential mortgages in Canada.
This depends on various factors such as income, expenses, and credit score, based on which the eligibility is taken into account.
Mortgage refinancing involves replacing your current home loan with a new one, typically to secure better terms such as a lower interest rate or shorter loan duration. It can also involve accessing the equity in your home for other financial needs.
A high-ratio mortgage is a type of mortgage where the down payment is less than 20% of the property’s purchase price. This type of mortgage typically requires mortgage default insurance to protect the lender in case of borrower default.
Getting pre-approved for a mortgage involves providing your financial details for assessment by lenders, who then determine the maximum mortgage you qualify for. This process streamlines your homebuying experience, giving you a clear understanding of your purchasing power and enhancing your credibility with sellers.
With a reverse mortgage, seniors can turn their home equity into cash and receive loan payments, which are typically returned when the person sells their house or passes away.
Contact us today to schedule a consultation with Yesha and explore your mortgage options. We are committed to making your homeownership dreams a reality.
Rest assured, we’re here to assist you through every stage of the mortgage application process.
We’re dedicated to providing you with fast, efficient, and transparent service, always prioritizing your needs.
Get competitive rates when you reach us for your mortgage solutions.
Ready to take the next step? Get your appointment with us today and find the best mortgage deals for your needs!
Yesha Patel
Mortgage Agent Level 2
Affinity Mortgage Solutions LIC #13093
Independently Owned and operated.
