{"id":1443,"date":"2021-01-27T22:33:32","date_gmt":"2021-01-27T22:33:32","guid":{"rendered":"https:\/\/myprivatelender.com\/?p=1443"},"modified":"2023-07-06T05:34:13","modified_gmt":"2023-07-06T05:34:13","slug":"mortgage-lenders-for-people-with-bad-credit","status":"publish","type":"post","link":"https:\/\/myprivatelender.com\/2021\/01\/27\/mortgage-lenders-for-people-with-bad-credit\/","title":{"rendered":"Mortgage lenders for people with bad credit!"},"content":{"rendered":"<p>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.<\/p>\n<p><b>Get a cosigner.<\/b>\u00a0If you can find someone with a good credit score who is willing to sign on as a cosigner on your mortgage, you may be able to secure a home mortgage loan. A cosigner basically promises to take over payments if you ever default on your mortgage. It\u2019s a big responsibility to take on, so it\u2019s important that both you and the cosigner you choose understands what\u2019s at stake.<\/p>\n<p><a href=\"https:\/\/myprivatelender.com\/\"><b>Work with an alternative lender<\/b>.<\/a> There are plenty of lenders available in Canada to deal with borrowers with bad credit. These lenders have different lending requirements than conventional lenders in Calgary and focus more on other factors, including income, assets, down payment amount, and total debt load.<\/p>\n<div id=\"attachment_768\" style=\"width: 310px\" class=\"wp-caption alignright\"><img aria-describedby=\"caption-attachment-768\" decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-768\" src=\"https:\/\/myprivatelender.com\/wp-content\/uploads\/2020\/04\/bigstock-House-1907658-300x209.jpg\" alt=\"\" width=\"300\" height=\"209\" \/><p id=\"caption-attachment-768\" class=\"wp-caption-text\"><a href=\"https:\/\/myprivatelender.com\/apply-online\/\">You can own a house with bad credit too!<\/a><\/p><\/div>\n<p><i>Interested in the alternative mortgage options available? <strong><a href=\"https:\/\/myprivatelender.com\/apply-online\/\">Check out\u00a0<\/a><\/strong><\/i><strong><i>this<\/i><i><\/i><i>.<\/i><\/strong><\/p>\n<p>Calgary borrowers should be aware, however, that be interest rates charged are often higher than what conventional lenders offer to those with a good credit score.<\/p>\n<p><b>Take time to improve your credit score<\/b>. If you\u2019re not in a rush to buy a home, you might want to make the effort to improve your credit score. That way you\u2019ll have a much better chance of getting approved for a mortgage. Consider taking the following steps to improve your score:<\/p>\n<ul>\n<li>Make all payments on time<\/li>\n<li>Pay down your credit card debt<\/li>\n<li>Keep your credit card spending to less than 30% of your credit limit<\/li>\n<li>Don\u2019t close out old credit accounts<\/li>\n<li>Don\u2019t apply for many loans in a short period of time.<\/li>\n<\/ul>\n<p>New, new, new! <strong><a href=\"https:\/\/myprivatelender.com\/free-consultation\/\">Find out if this option is for you.<\/a><\/strong> Most importantly the only hard part is the down payment. If you can come up with 20% to put down, you might just have an approval.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you have bad credit, &#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mortgage lenders for people with bad credit! - Private Lender Inc.<\/title>\n<meta name=\"description\" content=\"Banks say no to people with bad credit. 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