Bad Credit Mortgages for First Time Buyers

If you’re a first time buyer with not so great credit, there’s no better time like the present to start looking at bad credit mortgages. Maybe you don’t have established credit just yet, or maybe you had a student loan or credit card you abused when you were younger and couldn’t repay. Whatever the reason may be that you need this kind of mortgage, we won’t judge. When we work for you as your Toronto mortgage broker we’ll be there for you every step of the way, helping you understand just how much you can get.

What is a Bad Credit Mortgage?

A bad credit mortgage is a mortgage for people who have… BAD CREDIT! Seriously though, you may have middling credit, you may not have any credit, but this is the right kind of mortgage for you. You’ll want to make sure that you’re getting one from a lender that understands your needs, so it’s important to look at what lender you’re working with before you start applying for mortgages.

Can Anyone Get One?

Almost anyone can find a bad credit mortgage, but finding the one that’s right for you is the hard part. That’s where we come in; we’re Toronto mortgage brokers that understand what lenders will give you a good deal and which ones want to take you for a ride.

We’ll also help you make sure that you can’t get a different kind of mortgage – after all, bad credit comes in many flavors. You need to know that whatever you do, you’re getting the help you need to buy a home or refinance the one you already own.

Will This Help Me Rebuild My Credit?

Yes, depending on your situation. Different kinds of bad credit mortgages will do different things. Some will help you boost your credit score by 100 points, others will help you get your credit ball rolling. It really depends on how things are structured and what you can do to make the most of your situation. It all starts by understanding where you’re at with your credit.

Have you looked at your credit report lately? Do you know what your credit score is, do you know what outstanding debts you have to deal with? The better your credit is when you start applying for mortgages the better off you’re going to be in the long run.

Is it Right for Me?

If you’re not sure a bad credit mortgage is right for you, give us a call. We’ll help walk you through all of your options and understand where you’re at. You may want to work on your credit before applying for a mortgage, you may want to look at refinancing as an option instead of getting another mortgage. Every situation is different and working with one of our Toronto mortgage brokers will help you know where you’re at.

Visit our Bad Credit Mortgage page today to learn how we can help you: http://www.homebasemortgages.ca/debt-consolidation/bad-credit/