Do you have a poor or bad credit rating and need to get approved for a mortgage? There are still a few different options available to you, and we can most certainly help in that regard.

Some of the most financially responsible people can find themselves with a bad credit rating due to unforeseen circumstances. Emergencies do happen and these can often affect the way you make your regular bill payments. For one reason or another, you may be late with a payment, miss one, or simply be labeled a risk because you don’t have a credit history.

Toronto Home Buying Bad Credit

We will help find a lender that wants to work with you

Whatever the reason for a bad credit rating, you’ll find it may be a little difficult to receive any financial help from a traditional financial institution or bank if you’re hoping to obtain a mortgage. If that’s the case, our team of professional mortgage brokers at can help find you a lender that has experience with individuals with poor credit.

These days, many lending institutions realize there are several reasons potential home buyers may be saddled with a poor credit rating and it doesn’t necessarily mean they’re a higher risk. Just because your credit score ranks below a certain number doesn’t mean you won’t be able to make your regular mortgage payments. This is why we offer assistance to help find an affordable rate and payment schedule which won’t cause you any financial hardship.

What lenders look for

Lending companies always look at your debt-to-income ratio as they want to ensure that any potential borrower can afford the payments. Our experienced mortgage professionals will search for the best deal and interest rate available for your particular situation. We’ll let you know exactly how much of a down payment is required to purchase the property, and work out a payment schedule that you’re comfortable with. Making regular mortgage payments will enable your credit score to steadily start to climb, although it is highly recommended to have at least 2 other active trade lines in your credit profile being used and paid accordingly to even further strengthen your credit rating.

It’s always a good idea to check what your credit score is before you apply for a mortgage. This way you’ll know exactly what information the lender is looking at. If you believe your score is incorrect or too low, you should inquire about it since mistakes can be made by the credit agencies. If there are errors, it will definitely benefit you to have them rectified. Homebuyers can access their current credit rating at agencies such as TransUnion and Equifax.

If you’ve been turned down by a bank, you may have better luck with another type of financial institution, trust company or a private lender. There are numerous companies which specialize in mortgages for those with a bad credit rating. At, we practice regularly in finding loans for Canadian homebuyers who have lower credit ratings. And since we have extensive experience in these types of mortgages, we’ll be able to do all of the legwork on your behalf and reach out to the right contacts.

Lenders will also be interested in other factors such as your income, other debt obligations, and how much of a down payment you intend on making. In general, a higher down payment is the preferred option since it means you need to borrow less money. It also shows that you have the ability to save money and you have an invested stake in the home. For homeowners who are refinancing, lenders generally allow a mortgage increase to an 80 percent maximum loan-to-value ratio.

There’s still quite a bit of light at the end of the tunnel if you plan on obtaining a mortgage, but have a bad credit rating. It’s highly recommended that you let experienced professionals handle the situation for you to make sure you can achieve your goals.

Learn your options

Contact us today to speak with one of our mortgage professionals who can answer your questions and discuss your mortgage options.


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Definitely not the same experience I had with the bank, thanks @MortgMeister #ThatWasEasy

Just got my quote from @MortgMeister, my wife gave me a high five when she saw it. Thanks Jeff!

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