A bad credit mortgage involves demonstrating that while your credit might not be strong, you are strong in other ways that lenders desire.
When you have to make a big decision, you look at all the pros and cons. That is how mortgage lenders work too! Before they will approve you for a mortgage, they look at more than one aspect of your creditworthiness. At Donna Mullen & Associates, we make it our job to bring your best qualities to light so that you might be able to become a homeowner even if you have a credit score issue. We want you to know that a bad credit mortgage is possible. We have relationships with traditional and non-traditional lenders, so we will work diligently to find a match for your situation.
It is a common misconception that lenders see a bad credit score and won’t approve the loan. The reality is that they look at the five C’s of borrowing, namely capacity, capital, collateral, character, and credit. A bad credit mortgage involves demonstrating that while your credit might not be strong, you are stronger in the other four. We believe that knowledge is power, so our goal is to educate you on the discernable steps you can take that will work in your favour. Even if you aren’t quite to the point of getting a bad credit mortgage, you’ll have the tools and information you need so you can achieve your dream in the near future.
We often find that families are in a better place than they expected. Not only are we able to help with getting approved for a bad credit mortgage, but we can also help you find the best terms and mortgage rate possible. It isn’t just our goal to get you into a home, but we also want to do so in the most economical manner possible. If you would like to know more, we recommend reaching out to us to schedule a free, no-obligation consultation. We look forward to helping you transition from a tenant to a Meaford, Ontario homeowner.