Mortgage lenders!
Credit Score No matter where you get a mortgage, you should aim for at least a 680 credit score for at least one borrower (or guarantor), especially if you put less than 20% down. A score of 680 is not necessary if you can make a 20% or larger down payment. To improve your credit […]
Alternative private mortgage financing!
Alternative private mortgage financing! When conventional lenders (such as banks or credit unions) deny mortgage financing, it can be easy to feel discouraged. However, it is important to remember that there is always an alternative! If you’re seeking a mortgage, but your credit score is damaged in some way and big institutions won’t lend you […]
Second mortgages to pay out bankruptcy or consumer proposal!
Fixing Your credit should be a priority! For some of us, pandemic related loss of income, or health matter was the tipping point to bankruptcy. While a bankruptcy or consumer proposal may have released you from some debt obligations, if that income is not readily replaced, or health has not yet improved, you find yourself […]
Mortgage lenders for people with bad credit!
If you have bad credit, that might stand in the way of you getting approved with a conventional lender in Canada. That said, there are other options available for bad credit consumers. Get a cosigner. If you can find someone with a good credit score who is willing to sign on as a cosigner on your […]
Advantages of refinancing your mortgage are plenty!
Should I Refinance My Mortgage? I think we can safely say that 2020 has been a strange year. A year of lockdowns due to a pandemic, financial support from the government, and the lowest interest rates in recent history. This has led to a rise in the number of homeowners who are considering refinancing their […]
mycreditfixer can turn 29% bad debt into 3% good debt
The ongoing resiliency of the Canadian housing market has most Canadians feeling confident that their home is a sound financial investment which will become a cornerstone of their long term financial well being. Unfortunately the same cannot be said for the amount of debt Canadians have outside their mortgage. A recent Royal Bank survey stated […]
Private lender to the rescue!
An individual or a little business that funds private mortgages is mentioned to as a private mortgage lender. A private lender generally works with borrowers who have problems getting mortgage borrowings through conventional channels. Interest Rates for Private Mortgages: Private mortgage borrowings are suggested at higher interest rates as contrasted to banks, because of the added risk engaged with […]
About private lenders
Private lending is becoming increasingly popular among Canadians looking to secure loans to buy, renovate, or refinance a home, take equity out. Canada’s current mortgage rules, including the stress test, have made it more difficult for some people to get mortgages from traditional lenders, particularly for those who are self-employed, first-time home buyers, new to […]
Rent to own a home
Acknowledge is priceless! People have many options to purchase a home, one of them so-called Rent To Own. It is a solution for clients unable to save down payment during a foreseeable time and or who have credit issues. In any case, before you enter into any type of rent or rent-to-own agreement, you must […]
Real Private Lenders are individual investors!
Investors are the real private mortgage lenders! An individual or a little business that funds private mortgages is mentioned to as a private mortgage lender. A private lender generally works with borrowers who have problems getting mortgage borrowings through conventional channels. Interest Rates for Private Mortgages Private mortgage borrowings are suggested at higher interest rates as contrasted to banks, […]