Home Loan Bad Credit Help
 

With banks' complicated mortgage qualifying requirements, alternative mortgage financing available through the mortgage broker Canada professionals, has become a valuable source of mortgage lending - it is more flexible than the banks and is solution based.

What is the longest amortization period in Ontario? 30 year longest amortization period Canada includes Ontario - this is a normal feature of the home equity mortgage loan. 

• You may have credit problems and need a refinance mortgage bad credit solution for debt consolidation bad credit,
• How to buy out your partner in a mortgage in Canada? A division of assets spousal buyout program is an ideal use for home loan bad credit dealing with matrimonial separation or common-law separation with complicated credit issues,
• When you have credit problems you'll need a bad credit home equity loan. When you're self-employed and cannot prove income on your tax returns you'll need mortgages for business owners no proof of income loans. 

Neither the 30 year amortization Canada home loan bad credit or a no proof of income mortgage small business owner are offered by the banks. Both are home equity loans Hamilton and Ontario wide.

Here are some basics for mortgages when self employed with bad credit if you need a no proof of income mortgage Canada:

If your earnings are business for self, the banks use a two year's average of your CRA line 150 self employed income as stated on your Notice of Assessment. Plus you'll need good credit. Equity lenders Hamilton and Ontario on the other hand understand no income mortgages for business owners and are more flexible with credit problems. They are pros with a no income mortgage, applying common sense conditions to qualify for mortgage. To establish your annual earnings, they will use your business bank deposits history and invoices.

The interest rate charged and the loan amount the alternative mortgage lenders will give you depends on the strength of your overall application, credit, area and marketability of your property and your ability to make mortgage payments.

For example, if your property is rural on well and septic, you may only get 65% of property value. But, if the location and quality of the property is attractive, you may get as much as 80%.

Home equity mortgage lenders assess each application on it's own merit. The interest rate is a bit higher than with prime lenders and they will charge a lender fee. But some will allow a second mortgage bad credit or a vendor take back up to 80% of property value if you need extra money.

Marie Copeland, FSU, Mortgage brokers Hamilton and Ontario. We love giving families bad credit debt help to get back on track financially.