It is much easier to find mortgage lenders for bad credit home equity loans now than it has been in the past. One reason bad credit mortgages are more common now than in the past is the development of specialized mortgage agents.  Our mortgage agents can arrange all the required paperwork to get the funds you require, we are here to provide you with the assistance you need.

How do mortgage lenders for bad credit home equity loans determine to fund a mortgage? One factor is your credit score which is produced by companies such as Transunion, your credit score indicates if you pay your bills on time or are constantly late on paying you bills. Every time you apply for a credit card or get “special in store financing” your credit is searched, the more searches you have the lower your credit score could go.

Many mortgage lenders for bad credit home equity loans will only lend in certain geographic areas. One reason for this is that most private lenders like to be able to drive to the property and inspect the buildings and land. Having a neat and clean property shows that the owner cares about the property this gives the private investor more confidence when providing a loan.

Mortgage lenders for bad credit home equity loans can take a few weeks to process a loan due to the complexity of the mortgage. The mortgage agent needs to arrange private lender financing, appraisal, lawyer, inspection of the property. Debt consolidation programs are also available to our clients, these programs can help you improve your credit rating and reduce your cost of borrowing funds.

Every person can be affected by bad credit information on their credit report, to get a free copy of your credit report visit the Transunion website.  Many times, when clients are looking for a mortgage in Canada they will find some lenders have not reported information correctly or have not update the information to your credit report the result is a bad credit rating that may come as a surprise to both you and the lender. Therefore, the best advice is to get your credit report well in advance and make sure it is accurate. If there are any errors you can contact the credit rating agencies and explain why there is an error.

Our agents are available to show you the best mortgage deals that apply to your situation, call us for you free consultation.

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