Bad Credit Mortgage: Clients Trust us to Help Get their Bad Credit Mortgage Approved
Bad Credit Mortgage situations are not fun and can cause a lot of stress financially. We Understand Sometimes Bad Things Happen to Good People and we can help. Let a 5 Star Mortgage Broker, Rumy Gill, help get back on track with your Credit so you can breathe easy again.
Rumy Gill - Mortgage Broker
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Overcoming your Bankruptcy or Consumer Proposal
Did you know it could take as long as 7 long years from the last activity date for your Bankruptcy or Consumer Proposal to disappear from your Credit report. That means when you have been discharged from your Bankruptcy or Consumer Proposal it is not removed from your credit report and will show up. Most of the time, when a Bank or Mortgage Lender was listed in the Bankruptcy or Consumer Proposal they will not be willing to Approve you for a Mortgage until you have proven you are able to re-establish your credit history again. This usually involves getting a secure credit card and working to build your history all over again, which can take you many years.
Bad or Low Bad Credit Score?
Good News for you is, we work with Mortgage Lenders who are willing to work with your Bad Credit situation, if your Bankruptcy or Consumer Proposal has been discharged for at least a minimum of 1 year and you have re-established your credit history you are in luck.
We are able to work with all Credit Score ratings, even if you have low credit score. We have over 50 Mortgage Lenders who we are able to help Clients with Bad Credit Approvals.
Let us help make sense of your Credit situation and help you with options that will help increase your credit score so we can bring you back to the Banks!
Looking for a Bad Credit Mortgage Brampton
Speak to mortgage broker about the most affordable option given your credit score income and property
Bad credit Mortgage Payments Can Save you Money and Free Up Cash Flow!
Consolidate Debt! Pay off High-Interest Debt! Increase your Credit Score Rating!
|BAD CREDIT MORTGAGE AMOUNT||MINIMUM PAYMENT|
*Examples of Approved Bad Credit Mortgage Payments for Clients based on minimum Interest only payments at 6.99% Rate on 75% LTV, some conditions may apply.
Credit Repair: Sometimes you need a helping hand to get you moving along on the right track. That's where we can, we help our Clients fix and re-establish their credit, even if you have Bad Credit Mortgage situation and the Banks won't Help, you can count on us to get your Bad Credit Mortgage Approved.
Have Too Much Debt? We have a Solution for you!
We understand life happens and things out of your control cause Debt to spiral you out of control. Such as, Constantly apply for new credit, Having too much Debt, or over utilizing your Debt can cause you to lower your credit score, resulting in a Bad Credit situation.
Good News for you, We can work with you just like we work with all of our Bad Credit Clients to help develop and implement a plan that will address and resolve your Debt issues so you can stop stressing about your finances and start enjoying your life again
Rumy Gill can Help you Get a Bad Credit Mortgage of up to $50k, $100k, $150k or More in Cash, Fast!
All you Have to do is Apply!
We Work with All Income and Credit Situations! Approvals on Home Equity are Available. Here are the Benefits of Working with Rumy Gill a Brampton Mortgage Broker for your Bad Credit Mortgage;
Declined by Bank
Loss of Job
Too Much Debt
Death in the Family
Low Credit Score
Over utilization of Credit
Personal or Work Place Injury
Legal Matters or Disputes
Frequently Asked Questions
What is a Bad Credit Mortgage?
A Bad Credit Mortgage uses a different type of Mortgage Lender(s) that use favourable set of guidelines and criteria for lending money to individual(s) with Bad Credit. Due to these guidelines and criteria some lenders (Bad Credit Mortgage Lenders) may see you more positively than others when looking at Approving your Mortgage as they use a more common sense approach to lending, unlike the Banks.
These Bad Credit Mortgage Lenders can even look at using your Property Equity to qualify your Mortgage instead of your credit score, whereas, most lenders like Banks are focused only on your credit score and credit history when Approving your Mortgage.
With our Bad Credit Mortgage Lenders there are no hard and fast rule of what’s considered bad credit or credit that cannot be Approved, our Bad Credit Mortgage Lenders work with all credit scores and Bad Credit situations. There are certain factors on a credit report that would make most lenders think you’re a higher risk like missing credit card payments, defaulting on a loan,and applying for credit too often but our Bad Credit Mortgage Lenders can make sense of it all and help you get your Mortgage Approved.
How do Bad Credit Mortgages work?
Bad Credit Mortgages are designed to help you build and reestablish your credit score rating and history so you can be seen a strong borrower. With Bad Credit Mortgages there is a limit on how much you can borrow. A Bad Credit Mortgage requires you have a deposit of at least 20-35% of the value of the property before you can purchase and if you are looking to Refinance then you will require to have anywhere between 20-35% Equity in your Home depending on your current situation.
Bad Credit Mortgages come with higher interest rates than what the Banks offer due to the risk of the borrower and they are usually short term Mortgages ranging between 1 to 3 years in length.
Can I Remortgage with Bad Credit?
If you already have a mortgage and you want to Remortage or refinance with bad credit, the first step is to keep up to date with your monthly mortgage payments, property tax, and monthly debts, to prove to the lender that you’re a responsible borrower, and you have built and reestablished your credit score rating and history so your Mortgage can be placed with the Bank after the term is up.
Did you know carrying too much debt can lead to … Continue reading How to Refinance Your Mortgage with Bad Credit?
A home equity line of credit, which is also referred … Continue reading How Home equity line of credit works in Brampton?