Bad credit happens. There are a number of reasons why a bad credit score can happen and this score can haunt us for many years. Even if you have a bad credit score, you still might be able to get a mortgage!

Someone with a bad credit score may still be able to get a mortgage! Here’s how:

• A bad credit mortgage is possible if the borrower is willing to pay a higher interest rate. (Remember: The lender earns a fee for lending you the money and this fee is paid in the form of interest. The higher the credit risk, the higher the interest rate).

• A bad credit mortgage is possible if the borrower is willing to pay a larger down payment up front. This is because the down payment pays off a portion of the principal thus reducing the amount of money owed.

• A bad credit mortgage is possible if the borrower can get a co-signer who has better credit; such as a family member who is willing to take on the payments if the borrower is unable to pay.

If you have bad credit, you might still be able to get a mortgage! Apply online or contact Nirpreet Thind at 416-826-7741 for a free, no-obligation consultation.

Apply online today… get approved today!