Bad credit Canadian mortgage


Equity Loan Commercial loan Home Purchase

Personal Loan

Contact Us

   Take Advantage of Excess Funds in Every City

Canada home purchase

       Great Rates, Fast Decisions and Less Paperwork

        Click here to apply            

Poor credit not a problem

What to ask your Canadian mortgage lender

Even if you have poor credit, and you think that you don't have many mortgage options, you should still know the questions to ask a potential lender.

Having been in the mortgage broker business for years, and dealing with folks that have less than perfect credit, I know that they just want to get rid of the debt load, including collections and judgments that are dogging them.  The last thing they think about is length of term, prepayment options, etc.

First off, please offer the lender a full disclosure of details.  I sometimes find that the client is somewhat embarrassed with their situation, and doesn't tell the lender everything. 

Three Ways to Get Started

 By Request     
Contact Me

 Online               Click here to apply

 By Phone         604-852-9311

This can result in delays, or even scuttle the entire deal.  For example, I've had situations where after everything has been approved, documents signed and submitted, the lawyer discovers that a lien has been placed against the property in the first position, and the only way that a new mortgage can be attached to the property is if the lien is paid out.  And of course, we didn't know about the lien (even though the client knew), and we didn't ask for enough money from the lender to pay out the lien.  So the mortgage was denied, and the client was left in a worse position than when they started due to costs and delays.

Let's talk about options.  For example, if you are looking at a variable mortgage, get all the facts about the variable rate mortgage that you are considering. If there is a �teaser rate�, which is an extra low rate that generally lasts for 3 to 9 months, find out exactly how long they last and what happens to your rate when it ends.


What are your options if you wish to lock in? What is the term of the variable rate mortgage? What are the penalties if you wish to pay off the mortgage early? Do they offer weekly and bi-weekly payments? How is the mortgage rate calculated? These are all things you should know with your broker or lender.


Mortgages are generally calculated semi-annually. Some institutions calculate their variable rate mortgages on a monthly basis. This actually increases your �real� rate. What are the privilege payment options? If there is a capped rate, does the rate stay at the cap once it is hit or does it drop back down if rates drop again? What are your options for locking in if you wish to do so later? Do they offer a guaranteed discount if you lock in? What happens to your payments if rates go up or down? These are the things you should know before signing a Canadian mortgage.

All Applications are FREE and there is NO OBLIGATION to borrow


Canadian mortgage calculator

Tips for a guaranteed loan, even with poor credit

What to look for with an online application

Canadian loan with bad credit

What is your credit score?

Why is my credit bad?

Tips for a CHIP reverse mortgage

Canada Mortgage Options

Real Estate Loan

First time home buyers mortgage

Be aware of debt consolidation companies

Myths about debt consolidation

Debt consolidation services can actually hurt your credit

Get mortgage interest rate protection

Where to get an interest only mortgage 

Home renovation loan

Bad credit debt consolidation loan

What to ask your mortgage lender

Choosing the right mortgage rate

The benefits of accelerated mortgage payments

Apply for a personal loan

Benefits of a mortgage broker

Benefits of mortgage protection insurance

Get away with a vacation mortgage

Get a mortgage after bankruptcy

Mortgage calculator

How to find an Alberta mortgage


Home Page   Privacy  Contact us    Site Map

�2002 -      All Rights Reserved.