bad credit

Bad Credit Mortgage Oakville, Burlington , Toronto

Bad Credit Mortgages
If you have a large downpayment, you may qualify for an equity mortgage even with bad credit.

A co-signer, additional assets or improved income may also tip the scales in your favor. A mortgage expert can evaluate your situation and recommend ways to improve your credit score and your application.
Clean Credit Canada 
If you need your credit cleaned in order to qualify for a mortgage or loan, we recommend the Clean Credit Canada services. They can help you improve your credit score to qualify for loans and lower interest rates.
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Bad credit mortgage Oakville, Burlington, Mississauga, Toronto Ontario Canada

Bad Credit Mortgage Ontario

  • Bad credit mortgage Ontario Canada Toronto Burlington

    Get a Mortgage with Bad Credit

    Lenders will look at your credit score and evaluate your credit history when you apply for a mortgage.  Different lenders have different criteria, but bad credit makes it more difficult to find a mortgage lender in Toronto and other areas of Ontario. 

    The first step to improving your credit and getting a mortgage is obtaining a copy of your credit report. It is wise to review your credit report at least once a year, since there may be inaccuracies that you will need to have corrected. You will want to work on building or repairing your credit to get the best rates and terms.

  • Some lenders offer mortgage options to borrowers with less than perfect credit, but it is wise to prepare and clean up your credit as much as you can before you fill in your application.

    Lenders will finance your home purchase if you meet their lending criteria. They will look at several factors, including your credit history, your income history, the value of the home you are purchasing and the amount of your down payment. The location, value and marketability of your home are also important. Lenders do not want you to default on your home - they want you to make your payments on time for the term of the mortgage. They will not lend you money if they feel there is too high of a risk for default.

    Lenders look at your mortgage credit score, but also at several key financial ratios. Your housing expense ratio should be no greater than 32% of your gross income. Lenders will look at all sources of income, including your spouce, a co-borrower, and any other sources of income. Additional assets, like investments, stocks, vehicles, equipment, may also help you qualify, especially if those items can be converted to put towards your down payment.

    Lenders want to see how much debt you carry and the type of debt (credit cards, car loans, current mortgage, child support, student loans, etc.). They will want to see how much money you are paying out to cover your debts each month. Your debt to income ratio gives a good indication of how much you owe and your net worth. Generally, the debt to income ratio should be lower than 44% - the lower the better!


    With access to hundreds of lending products and lenders all across Canada, Lee Anne knows the criteria required by different lenders, and can use that knowledge to place your mortgage.  Even if the banks turned you down, she can usually find you a lender.

  • Getting a mortgage with Bad credit