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Traditionally if you have ever had bad or poor credit it would be very challenging for you to obtain a mortgage with a great interest rate. In today’s mortgage market it has changed and now there are many opportunities for borrowers with a poor credit history. When you contact a Mortgage Intelligence mortgage professional they will be able to help you get a great rate.
Things you need to know when you are discharged from a consumer proposal or bankruptcy.
Private Mortgages can be the solution when you have a credit situation that National Bank guidelines won’t overlook. Your Mortgage Doctor at MI is here to help customize a mortgage from over 50 lenders across Canada.
Capitol One helps those who have suffered bad credit in the past. Apply on line to re-build your credit rating now. You are guaranteed an approval. Choose from Cash Back cards, Low Rate cards,even New to Canada Credit card approvals.
Your Durham Region Mortgage Doctor team of Licensed Agents, share their knowledge of Equifax and Trans Union credit bureaus to help you fix your bad credit. They are your “Good Credit” health care providers in Oshawa, Whibty, Ajax, Pickering and the GTA.
As post secondary education costs have increased a lot over the last 20 years more and more students are taking out student loans to pay for their education. As the economy is still trying to get back on track it is becoming harder and harder for recent graduates to find a job right out of college/university and they have no way to pay their student loans off. There are three options you can consider that may help your situation.
When filing for Bankruptcy depending on your situation you may be able to keep your house out of the bankruptcy if you are able to afford the carrying costs of the house. If you are unable to carry the house it might be a good idea to include it in your bankruptcy. Bankruptcy is sometimes your last option when there is no other way out but you may also want to consider consumer proposal as an option before bankruptcy. Your bankruptcy trustee and you can go over all your best options in order to find the right solution for you.
Borrowing with 5% down through CMHC and Genworth after Bankruptcy or Consumer Proposal. In Canada you must be discharged at least 2 yrs and have clean re-established credit to buy a home. Rules for Self Employed borrowers are different since the new Government rules came into effect in Ontario.
Late payments due to a lot of high interest rate debt can cause poor credit! Are you behind in your payments because of job loss, illness or divorce? The Durham Region Mortgage Doctor has mortgage resources to give you the credit you deserve!
Home Trust has Equity Line Visa to provide you with a secured second mortgage at a low rate of interest (On approved Credit). If you are staring a Business it can provide start-up costs from your home equity, even though you can’t prove how much you earn! The Home Trust Equity Line Visa reports to Equifax to help rebuild your bad credit too.
Oshawa, Ontario L1G 5N3
(905) 404-8001
(866) 452-1100
info@themds.ca
The Mortgage Doctors is Durham Region’s Mortgage Superstore. Our Mortgage Brokers use their expertises to advise and obtain approvals on mortgage financing that fits your mortgage needs.
Monday – Friday: 9AM – 5PM
Saturday – Sunday: CLOSED
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