Is it possible to get a mortgage in canada with bad credit?

Answer 1

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Answer 2

I am a mortgage broker, and I do mortgage.
To obtain a mortgage isn't as difficult as everyone else thinks.

And to do any mortgage deal, I would first ask the borrower(s), how are you gonna pay for the mortgage?

It seems to be a simple answer, but resulting the answers could be very different.

Is it that a good credit person must can obtain a mortgage? I don't think so.

For each mortgage loan, there must be some requirments applicants must meet before.

Some questions I might ask you if you in front of me.
1) Why you had such a bad credit?
2) Are those history repeatable?
3) Any downpayment? What is the percentage or amount?
4) Are you currently working, and is the job verifiable?

Good luck

Answer 3

I'm a Mortgage Broker from Edmonton and I deal with a lot of people who have had credit challenges in the past, so don't feel like your the only one. Here's a few questions to help see if you can get 100% financing even with bad credit.

1) have you paid off any unpaid collections or written off loans/credit cards?
2) If you were bankrupt have you re-established your credit with a minimum of $1500?
3)If you were bankrupt has it been discharged longer than 2 years?
4) Do you have a beacon score of at least 480?
5) Do you have a good work history?

If you can answer yes to these then you can get 100% financing with a lender in Canada. If you wnat more information you can contact me at http://www.albertamortgageguy.com. I'm not solicting as I will only arrange mortgages in Alberta. Good luck in the home hunt

Answer 4

Hi I,m from Canada I have bad credit too I would like to know contact me when you find out I guess you want a brand new house good luck

Answer 5

Yes !

There you go : http://simple-credit-cards-and-loans.com?=yh060307

Also take a look there, it may help you : http://index-go.com/improve-credit-score-get-out-of-debts-fast.asp


Good luck !