Bad Credit Mortgage in Taber, AB
Don't let less than perfect credit affect you from getting a mortgage or purchasing a home of your dreams. If you have a down payment ready or currently own a home, we may be able to assist.
Can I get a mortgage with bad credit?
To qualify for prime lenders (A lenders), credit score would need to be between 600 - 700+ range. If credit score is below 600, then we would need to explore mortgage options with alternative lenders. We can review your financial situation and help you find a lender that best suits your needs.
How much down payment do I need?
With decent credit most lenders will be able to give you a mortgage with a minimum 5% down payment.
Depending on where your credit sits, a higher down payment may be required. Generally between 20% - 30%.
Low Credit Score
Have a low score and want to improve it before applying for a mortgage? Whether it is due to consumer proposal, bankruptcy or missed/late payments. Lets take a look and make a plan together!
Bankruptcy or Consumer Proposal
Before going through bankruptcy or consumer proposal, if there is enough equity in the home, lets explore options to consolidate the debts and let the credit recover.
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Getting a mortgage after bankruptcy or consumer proposal may be a slightly different process. I have access to non-traditional lenders that have financing options for borrowers who do not meet traditional lending requirements.
Alternative Lending
Depending on specific scenarios, alternative lenders may be a good option to explore. Getting back on your feet isn't easy, we are here to help to help you get back on the right track