Current Variable Rate
6.30%Current Prime Rate
6.95%
Terms | Bank Rates | Our Rates |
|---|---|---|
6 Months | 6.59% | 6.25% |
1 Year | 7.04% | 6.14% |
2 Year | 6.54% | 6.29% |
3 Year | 6.29% | 5.91% |
4 Years | 6.29% | 5.74% |
5 Years | 6.34% | 5.29% |
7 Years | 6.60% | 5.84% |
10 Years | 6.85% | 6.00% |
Mortgage with Bad CreditGet back on track
Mortgage with Bad CreditGet back on track
CALL US, WE CAN HELP!
Can you get a mortgage if you have bad credit? With certain loan programs and lenders, it may be possible—especially if you can make a big down payment, prove large cash reserves and have a low debt-to-income ratio.
Bad credit mortgages are usually a temporary and last-resort measure, the typical term length for a bad credit mortgage is 6 months to 2 years. You’ll need to improve your credit during this time.
The Government of Canada has plenty of information on how long information stays in your credit report. This is especially important if you’re thinking about buying a home in the future.
Tips for Getting a Mortgage with Bad Credit
- Try a mortgage broker.
They may know which lenders are the best match for your circumstances. - Spend a few months improving your credit before applying for a mortgage.
Paying down high-balance credit cards, making on-time payments and disputing credit report errors can help your score considerably. - Save up a down payment of at least 10%.
Lenders will see you as less risky when you have more skin in the game.
Our Rates
Compare our rates to the banks and see why the HB Mortgage Centre is the wisest choice.
Please Note: Advertised rates are not guaranteed. The rate provided by any financial institution listed, or any approval or decline you receive, will be based solely on your personal situation. Rates may vary from Province to Province and are subject to change without notice. Posted rates may be high ratio and/or quick close which can differ from conventional rates. The advertised rates are provided as guidance only and the accuracy of these rates is not guaranteed. You are encouraged to speak with a HB Mortgage Centre Specialist for the most accurate information and to determine your eligibility. *O.A.C. & E.O.
Ready to apply for a Mortgage?
Get the process started by filling a short mortgage application form and our experienced representatives will contact you to discuss your financial needs.