Bad or Bruised Credit Mortgages in Toronto and the GTA

Bad or Bruised Credit Mortgages in Toronto and the GTA Made Easy!

Do you live in the Toronto or GTA? Do you have bad or bruised credit and are having a hard time getting the mortgage you deserve? We can help.

If you are trying to get a mortgage with bruised or bad credit then it’s likely that your local bank will turn you down. The good news is that even if you have an exceptionally bad credit, getting a loan from major banks is not your only option. At Crosstown Mortgages we have access to dozens of lenders outside of the big Canadian banks that allow us to offer a variety of options that may suit you and your situation.

Many of our lenders specialize specifically in dealing with people with credit issues. The only downside is that you will likely be placed into a higher interest rate compared to a borrower with pristine credit history. This simply compensates the lender for the additional risk involved however the difference may not be as large as you may think as many variables may be taken into consideration. Another thing to consider if applying for a loan when you have credit concerns is that a larger down payment may be required (in order to offset the lenders risk) in comparison to that required of a borrower wit immaculate credit.

If your credit isn’t quite where it needs to be to purchase a Toronto area home today, we can help. Contact us today and we can take a closer look at your exact situation and determine options for you. No hassles.