Purchase and Refinance:
Buying a home is probably one of the biggest investments you will make but it can be tough securing a mortgage to buy a home or refinance your existing mortgage when you have non-traditional income or bruised credit.
Banks and credit unions have strict guidelines and being self-employed, owning a small business or being an entrepreneur means you may not fit into the neat little box of guidelines they use to determine your credit worthiness.
Another reason people get turned down by the banks and credit unions is because of credit issues such as low credit score, previous bankruptcy or consumer proposal. In most cases, the bank does not care about the story behind the issues, you either fit the box or you don't....but there are other lenders out there who will listen.
Buying a home is probably one of the biggest investments you will make but it can be tough securing a mortgage to buy a home or refinance your existing mortgage when you have non-traditional income or bruised credit.
Banks and credit unions have strict guidelines and being self-employed, owning a small business or being an entrepreneur means you may not fit into the neat little box of guidelines they use to determine your credit worthiness.
Another reason people get turned down by the banks and credit unions is because of credit issues such as low credit score, previous bankruptcy or consumer proposal. In most cases, the bank does not care about the story behind the issues, you either fit the box or you don't....but there are other lenders out there who will listen.
If you are in either (or both) of the above mentioned situations, you need to know there are non-bank and credit union lenders who may be able to offer you alternate mortgage solutions.... because they have different guidelines and lending criteria.
There are many lenders whose rates are comparable (or better) than the bank rates..... alternative lending is not just for those with bruised credit.
If you do have credit issues, this makes you a higher "risk", but there are lenders out there who have programs available for higher risk clients. (This will be reflected in the rates and fees).
As a licensed mortgage agent I have access to a variety of lenders and mortgage products for people who both meet and don't meet the "Big 5" bank guidelines. If getting a mortgage has turned out to be a difficult process for you, it may be time to start looking into alternative ways to get approved.
Mortgage Solutions I provide (in Ontario, Canada):
- Purchase, Refinance or Switch
- Commercial and residential mortgages
- Construction mortgages
- Debt consolidation (using home equity)
- Secured credit card
- Equity line visa
For more information about the mortgage solutions that may be available to you, click the button below to schedule a FREE call with me.
There are many lenders whose rates are comparable (or better) than the bank rates..... alternative lending is not just for those with bruised credit.
If you do have credit issues, this makes you a higher "risk", but there are lenders out there who have programs available for higher risk clients. (This will be reflected in the rates and fees).
As a licensed mortgage agent I have access to a variety of lenders and mortgage products for people who both meet and don't meet the "Big 5" bank guidelines. If getting a mortgage has turned out to be a difficult process for you, it may be time to start looking into alternative ways to get approved.
Mortgage Solutions I provide (in Ontario, Canada):
- Purchase, Refinance or Switch
- Commercial and residential mortgages
- Construction mortgages
- Debt consolidation (using home equity)
- Secured credit card
- Equity line visa
For more information about the mortgage solutions that may be available to you, click the button below to schedule a FREE call with me.
*Glenda Barrington holds her mortgage agent license with GreenFlow Financial (Brokerage License #12402). She is licensed to process all mortgages through them and has access to alternative lending solutions by way of all of the lenders that they have partnered with.