Best Bad Credit Mortgages In Canada

An alternative mortgage is ideal if the income you claimed in your tax filing is not enough to qualify for a mortgage with a bank, or you’ve had a few personal circumstances in the past that have negatively affected your credit record. In general, you should be a candidate for an alternative mortgage loan if your income and credit profiles fit the standard of traditional mortgage lenders. 

It will be surprising to know that it is easier to qualify for an alternative mortgage loan. Alternative mortgage lenders offer flexible criteria given that the clients they target do fit the standard qualification guidelines. 

Other than the high required down payment and the possible high mortgage rate, it is easier to qualify for alternative mortgage loans than a prime (insured and insured) mortgage loan.

Alternative mortgage lenders employ common sense in their mortgage review.

Alternative mortgages are mortgage loans that do not fit traditional lenders’ approval guidelines or default insurance qualification criteria.

Mortgage solutions that fit the alternative mortgage bracket are bad credit mortgage, private mortgage, business for a self mortgage, and second mortgage loan products.