Bad Credit Mortgages London Ontario

Bad Credit Mortgages London Ontario

Bad Credit Mortgages London Ontario

Bad Credit Mortgages London Ontario

As a Licensed Mortgage Broker I am often asked, “Can I get a Mortgage with Bad Credit,” or “Can I still refinance my home with bad credit?” While I hear these questions often, I always respond “You don’t have bad credit, you have bruised credit, and bruises heal.”

See below for options on how to get a Mortgage with Bad Credit, Repair your Credit, and Build Up your Savings!

Bad Credit Mortgages

Life is unexpected and has a tenancy to throw us curve balls. This often leaves people in a situation where they have to make the decision between paying the credit cards and feeding the kids. The choice is an easy one, and people should not be penalized for the choice.

Credit Repair

Even if you have Bad Credit at the beginning of your mortgage, we will develop a plan to repair your credit by the end of the term of the mortgage. By taking out a short-term mortgage (1 or 2 years), we can effectively repair your credit during the term, enabling you to get an A Rate Mortgage by the end of the term.

Inquire About Your Options

Refinance Your Mortgage With Bad Credit

Even with Bad Credit you can still Refinance your Mortgage, so long as you have at least 20 percent equity in the home! By consolidating outstanding debt through refinancing your mortgage you can often lower your monthly mortgage payments, reduce your monthly obligations, and begin the process of repairing your credit.

Twenty-Percent Down

If you have a twenty-percent down payment then there is a very good chance that you can get a mortgage. While the Mortgage Rate might not be ideal, there is always the option of switching into a much more desirable Mortgage Rate in a year or two of showing good repayment history.

Strong Co-Signor

Even with Bruised Credit, I have helped many people get a Mortgage when they have a strong co-signor. After a year or two of good repayment history we are able to take the co-signor off the mortgage, and the main mortgagee has establish even better credit!

Is it Bruised?

If have many clients who think they have bruised credit and it turns out the don’t! If there are explainable late payments, no collections (or the collections are more than 6 years old), then there is a good chance you do not have bruised credit and can qualify for 5 percent down to get a mortgage! A good place to start is Here you can obtain your credit report and get a good idea of what is showing on your credit bureau.

Twenty Percent Down

Most lenders require twenty-percent down if there is bruised credit.

Strong Co-Signor

A Strong Co-Signor can make all the difference in Getting a Mortgage with Bruised Credit.

Is it Bruised?

Is the Credit Really Bruised? It is worth a check!.

Contact Mark Mitchell – Mortgage Broker London Ontario

Mortgage Broker London Ontario – Fastest Response Time

I understand that when you have questions about your Mortgage that a a few hours to receive a response can seem like an eternity! I specialize in providing a fast response time to all inquiries, questions or comments. My Yelp Page shows an average of 10 minute turnaround time for all responses.

As I do with all of my clients, when we are awaiting a response from the mortgage lender we will touch base every day just to keep in constant contact. I believe in keeping my clients well appraised of the status of their applications. Nothing is worse than not being in the know!

Please Feel Free to Call or Text me at (519)860-2102.

Mark Mitchell – London’s Mortgage Broker
London, Ontario