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Bruised Credit Mortgage

Get Approved in 3 Simple Steps
Step 1
  • Type of Loan
  • Mortgage Request
Step 2
  • Property Value
  • $ 50,000
  • Mortgage Request
  • $ 50,000
Step 3
Your Estimated Monthly Payment *

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Bad Credit Mortgage

If your credit is bruised, you may think there’s no way you’ll ever get a mortgage and definitely not any time soon. You’ve been to your bank only to be turned down. You’ve tried a traditional mortgage broker only to be sent away without an approval.

Luckily, there is a silver lining to this dark cloud: PrivateLend.com will find you the perfect lending package even if your financial situation is less than par. We will ensure you receive funding for your property.

What Is A Bruised Credit Mortgage?

A bruised credit mortgage, sometimes called a bad credit mortgage, is a loan given to people who possess a credit score that is under the National average. Most lenders will only grant a mortgage to those with credit scores that are higher than 650+, and there are some lenders who will only work with individuals who have a credit score of 700+.

A bruised credit mortgage is an ideal option for anyone who has bad credit but will still be capable of making his or her monthly mortgage payments on time. As long as you can prove that you have no intention of defaulting on your loan, you are a good candidate for this type of mortgage.

How Can Credit Become Bruised?

Not everyone is able to maintain a high credit score due to factors that are beyond their control. You may have had a death in the family and were stuck paying funeral expenses that left you in the red. There may have been tuition hikes for your children, bad investments, damage to your home that insurance refused to pay for or even simply trying to keep your business afloat in the constantly shifting Canadian economy can all contribute to a bad credit score.

If you are unable to pay your bills on time, your credit will bruise. No matter what the circumstances that led your credit to bruise, PrivateLend.com does not use that as a factor when finding you a mortgage.

What Are The Benefits Of Obtaining A Bruised Credit Mortgage?

Bad credit mortgages not only allow you to refinance your home but they have other perks as well. This type of mortgage can keep you from declaring bankruptcy if you are able to consolidate the loan with your existing high interest debts. You can also use a bruised credit mortgage to refinance your property and unlock its equity to use for home improvements, college tuition, etc.

If you’re credit is bruised, contact us so we can help you get the right mortgage. PrivateLend.com is the quickest funder of mortgages in Canada and we can fund yours no matter what your credit score is.

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Current Mortgage

  • Home Worth $300,000
  • Current Interest Rate 3.0%
  • Current 1st Mortgage Payment $1,050
  • $250,000 Mortgage Balance
  • $50,000 Mortgage Requested
  • $25,000 Tax Arrears $500/month
  • $25,000 Credit Cards $750/month
  • Total $2,750/month

Second Mortgage

  • Home Worth $300,000
  • Current Interest Rate 3.0%
  • Current 1st Mortgage Payment $1,050
  • $250,000 Mortgage Balance
  • 2nd Mortgage Payment $250
  • $25,000 Tax Arrears Paid
  • $25,000 Credit Cards Paid
  • Total $1,300/month
You Save $1,450/month!

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Latest Blog

What To Consider When Shopping For Mortgages

Posted by | Jun 27,2016

Are you thinking about purchasing a home? If so, then here are the questions you need to consider before you start shopping for a mortgage. What type of lender do you want to use? Mortgages are available through a wide variety of sources. You can obtain a home loan directly through lenders such as credit unions, mortgage companies, and commercial banks. You can also use a mortgage broker, who can contact lenders for you and present you will several different offers. Read More

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testimonials

Being a new resident from another country and working for yourself can pose a lot of problems financially and I tried a number or people before finding Privatelend. Alicia and Sunny were quick, helpful and just made my life a whole lot easier. I can breathe again. I would recommend anyone to use them in a heartbeat.

D & E, North York

Thanks again for getting us back on track with our finances. You are all very pleasant and I have nothing but admiration for your professionalism with us in this big step we have taken at this stage of our life. We wish you the very best always.

K & S

I just finished a refinance with privatelend but it would not be complete unless I gave a shout out to my contacted people Alicia and Sunny they were competent ,prompt, easy to contact and very pleasant thanks a bunch girls great job.

Wayne from Whitby
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