Have you been in a situation where your debts have accummulated but you’ve not had to file for bankruptcy or a consumer proposal? Your bruised/poor credit feels like a heavy dark cloud hanging over your shoulder and holding you back from becoming a homeowner? Don’t assume that homeownership is out of reach for you, until you have spoken to a mortgage broker and had your financial circumstances assessed. Homeownership maybe possible, despite bruised or poor credit. Here’s what you need to understand:
- You will be required have to least 20 percent downpayment (under certain circumstances this could be around 10 percent);
- Interest rate will be in the region of 5 – 10 percent;
- Show stable employment & monthly income;
- Closing costs could include both lender & broker fees.
We can assess your situation and present you with solutions based on your financial needs. Contact the team at MiMortgage.ca to speak an expert now.