WHAT DO I DO IF I HAVE BAD CREDIT BUT I WANT TO PURCHASE A HOUSE? For individuals who have worked hard to get out of debt, a poor credit history can be quite frustrating. Low credit scores can follow you for years, making it difficult to meet the minimum requirements set out by banks and traditional mortgage providers. Unable to secure a mortgage, this leaves you in a situation where you’re stuck continuing to pay rent, putting money into someone else’s pocket instead of investing into a property of your own that will build equity over time.
Many people do not realize that there are options available specifically tailored to help individuals in these situations to secure a mortgage. These lenders may require a larger down payment but they are able to provide mortgage options at low interest rates. Whether you are looking to purchase a first home or you want to refinance your existing mortgage for a better interest rate, a mortgage broker that specializes in low credit mortgages can help you find the right mortgage for your situation so that you can get out of the rental game and start investing in your own financial future!
– Canadian Mortgage Finder, www.canadianmortgagefinder.com