Bad credit mortgages are provided for both purchases as well as equity take outs/second mortgages and the Loan to Value (LTV) ratio differs for first mortgages and second mortgages.

First Mortgage - In case of a first mortgage used to purchase a new property, the borrower(s) with bad credit can receive up to 80% LTV and need to put down the reaming funds form their own personal assets.

Second Mortgage/Equity Loans – In regard to home equity loans and second mortgages, the borrower can receive as much as 90% to 95% LTV depending on the location and type of the property. The approval is based on equity alone so as long you have equity, you can receive the funds you need.

Yes and here is why: The bad credit mortgage lenders lend based on the fact that their money is secured by a real property and in a worst case scenario they can get their money out of the property; thus, as long as there is equity (in case of home equity loans/2nd mortgage) or sufficient down-payment in case of purchase, they will provide you with the funds you need regardless of the circumstance surrounding your current or past credit history.

Who are you calling? Ask yourself what happens if you just called RE/MAX or walked to their office to sell your home? Who would pick up the call? Would it be the best salesperson in the office? In fact the opposite is more likely. The chances are your call will be routed to the first person picking up the phone or you would meet those sitting around in the office because they don’t yet have enough experience/clients; and thus, you may not receive the level of service you had hoped for. Mortgages are no different. Therefore, it is absolutely critical to KNOW WHO WOULD BE WORKING ON YOUR FILE.

With access to OVER 500 PRIVATE LENDERS, I can approve mortgages that many other agents and brokers including those that specialize in bad credit and second mortgages cannot. I have built an extensive network of private lenders so that I can approve tough situations all around including in small towns and rural areas of Ontario.

Private mortgages are different from traditional mortgages in that it is up to each agent/broker to find his or her own source of private funds. Most agents have only a few lenders they use for every situation which results in high fees, rates and turn-downs due to the fact that not every lender is able to finance every area or type of property.

Since each applicant's situation is unique, I submit your request to the lender which can best serve your financial needs based on your location, type of property and LTV. This ensures that not only you receive the second mortgage funds you need on time but that you receive an outstanding service as well as low rates and fees. Contact me today to discuss your financing needs