Do you have Poor or even Bad Credit? Do you live in the Nanaimo, Parksville, Nanoose, Ladysmith, Duncan or Courtenay areas of Vancouver Island? We can help.
We understand that having bad credit and trying to get a mortgage might seem impossible but rest assured it is not. We have worked with many people from the Nanaimo and surrounding areas of Vancouver Island who've had poor or bad credit and still get the mortgage they needed.
Once upon a time it was almost impossible to get a mortgage in the Nanaimo area if your credit score or rating was considered 'bad'. Times have changed and bad credit mortgages are available.That said what you need to know is that due to your bad credit you will be charged a higher interest rate as compared to those with good credit. The financial institution will need to be certain that the monthly payments can be made. An individual’s debt-to-income ratio has to fall within a certain category. The lender must be sure that the property being purchased is affordable. The lender uses a point system to help in determining eligibility for bad credit mortgages in Nanaimo.
Consolidating Your Bad Credit Debt
Bad credit mortgage loans are also a useful vehicle when it comes to consolidating and paying off your debt and can help to improve your credit status.
We encourage you to contact us for a free, no-hassle assesment of your bad credit mortgage needs, we're sure we can help provide the insight and information you need.