Bad Credit Mortgage

If you are looking to get a bad credit mortgage, it might be for one of the 3 following reasons:

  • A history not making your debts payments on time;
  • You have filed for bankruptcy or you have recently been discharged from a bankruptcy; and/or
  • You have filed for a consumer proposal or you have recently been discharged from a consumer proposal.
Homeowner and a bad credit

For the homeowner looking for a bad credit mortgage due to a history of not making debt payments on time, there is always the possibility of refinancing with an B lender to help with your current situation. Depending on your needs, your income, and the equity on your property, we can get you a bad credit mortgage to refinance and pay your debts and, consequently, fix your credit. If that does not work, we can get you a second mortgage to answer the same needs but at a higher interest rate. Even if the interest rate might be slightly higher then an alternative B lender, it would then save you money at the end of the month and help improve your credit. At the end of your 1- or 2-year term with the B lender or 2nd mortgage loan, you would be in a position to refinance with a traditional A credit lender. The whole point of getting a bad credit mortgage is that you are always moving forward in life, one step at a time!

Homeowner who has filed or been discharged from bankruptcy

If you are a homeowner who has just filed for bankruptcy and not yet been discharged, only a private lender will be able to finance you. You will need to have anywhere between 25% to 35% equity in your property or more. If you have been discharged from bankruptcy, it will depend on which lenders were included in your bankruptcy. You might not be able to refinance with a standard lender just yet therefore we might have to transition you to a B lender for a 12–24-month term for you to re-establish your credit. Again, this is done only if you need to refinance and get a bad credit mortgage to pay off debts, do repairs on your property or to consolidate all your debts into one payment.

Homeowner currently in Consumer proposal

If you are a homeowner who is currently in a consumer proposal, you might need to wait a minimum of 12 months before being able to transition to a B lender. They may consider refinancing you to pay of off your consumer proposal. Again, equity is the name of the game and they will lend you 65% to 75% of the value of your home. Once the refinancing is complete, you will have a 1-to-2-year term with them and then we transfer back to a regular lender. The strategy is always step by step.

Home Value


Amount Owing on Your Mortgages





The Right Strategy


Financial Success!

Tenant looking for homeownership.

If you are a tenant looking for a bad credit mortgage, there are options available.

If you are currently in a bankruptcy or consumer proposal only a private lender will be able to finance, you.

If you have been discharged, then a B lender might be your best option depending on your area and your down payment. If the area is not serviced by a B lender and/or you have slightly less than 25% for a down-payment, a rent to own program might be a good option.

Regardless of whether you need a private lender or B lender you will need to have at least a 25% down payment, good incomes and the need to buy a property within the greater region of Montréal to have access to them.

Rates range from 10 to 12% interest-only payments with a private lender, and they’re usually used only for a 1-year term to get your foot in the door and then your file is transferred to a bank or B lender.

With a B lender, the rates begin at around 3.49% to 6.99%, depending on credit history, down payment, location of the property and your employment income. They are also a considered short-term lender as most clients only need to stay with them for 1 or 2 years to increase their credit score high enough to be eligible for a traditional A mortgage lender.

Again, if after studying your file, we are unable to get you a bad credit mortgage, we can always consider a lease purchase option.

For more information, or to take the first step towards resolving your situation, complete our online form right now! You will be glad you did!

3 Simple Steps — 24 Hour Approval

Easy Application

Private mortgage financing

1. Apply Online

Use the form on this page or call 1-888-708-5576 to speak to one of our representatives.

2. Get approved

Approved within 24 hours. Your home equity is the key to your approval. Get approved now!

3. Get your funding

We make it easy. Loan funds can be deposited directly into your bank account, once approved.