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We have lenders that cater directly to
Canadians with bad credit
Firstly,
what is bad credit? In Canada, a credit score from
Equifax that is below 640 is considered poor credit.
In most cases, you can approach a conventional Canadian
bank with a score of 640 - 680 and above. Only 15%
of Canadians have a score below 640, with 10% having a
score below 600.
If you do
have poor credit, please don't think that all is lost.
We offer bad credit loans in Canada from our
Canadian
mortgage lender.
In the
case of an Canadian equity loan, as long as you have
sufficient equity in your home, and can show proof of
employment, we should be able to get you the money you
need
If you are
purchasing a home in Canada with bad credit, you can get a
Canada home loan
if you have full time employment and a downpayment of
between 10% and 30%. You can even use a
vendor-take-back 2nd mortgage in lieu of a downpayment.
And in the
case of a refinance
Canadian
mortgage loan, the lender will
be looking to see if you have made your mortgage payments
on time for the last year. And even if you haven't,
our private lender will consider your circumstances.
The costs involved include an appraisal and
legal.
If you have bad Canadian credit and are
looking for a
Canada
loan,
click
here.
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