Ontario mortgage help
Getting a mortgage with bad credit in Ontario
A low score is only one part of a mortgage application. Review both credit reports, correct factual errors, identify the event behind the credit problem, and compare the complete cost of any alternative financing.
What to do first
Order your credit reports directly from both Canadian credit bureaus and review every account, balance, payment history, and inquiry.
Dispute factual errors with the credit bureau and creditor instead of paying someone to create a new credit identity or remove accurate information.
Ask which part of the application is limiting approval: recent payment history, outstanding collections, debt level, income, down payment, documentation, or the property.
If an alternative or private mortgage is proposed, compare the rate, lender and brokerage fees, legal costs, term, renewal risk, and a dated exit plan.
Important considerations
There is no universal approval scoreLenders combine credit history with income, debt, down payment, property, documents, and their own policies. A score by itself does not determine the result.
More applications are not automatically betterIdentify the problem before authorizing repeated applications. A different lender only helps when its policy addresses the actual barrier.
Short-term financing needs a real exitA higher-cost mortgage should include specific steps, timing, and assumptions for moving to sustainable financing or repaying the loan.