Bad Credit or No Credit Mortgage

HomeBad Credit or No Credit Mortgage

Bad Credit or No Credit

Government Programs

Explore government-backed programs such as the Canada Mortgage and Housing Corporation (CMHC) Flex Down Program, which offers flexible down payment options for homebuyers with less-than-perfect credit.

Improving Credit Score

Taking steps to improve your credit score, such as paying off outstanding debts, disputing errors on your credit report, and making timely payments, can increase your chances of qualifying for a mortgage with better terms in the future.  We have some useful tips that we can share.

Seeking a Co-Signer

If you have a family member or friend with good credit who is willing to co-sign the mortgage with you, it may improve your chances of getting approved for a loan.

Saving for a Larger Down Payment

Saving for a larger down payment can demonstrate to lenders that you’re financially responsible and committed to homeownership, which may help offset your poor credit history.

B Lenders

Some lenders specialize in offering mortgages to individuals with lower credit scores. These mortgages typically come with higher interest rates and may require a larger down payment.  Discussing various B lender options is always worthwhile.

Private Lenders

Private lenders may be more lenient with credit requirements compared to traditional banks and may be willing to offer a mortgage based on other factors such as income and assets.

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How much are you looking to borrow?
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