Getting A Mortgage With Bruised Credit

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It’s a common misconception that mortgage lenders would never work with those who have bruised credit. It does help to have a high credit score. However, having bruised credit is no reason to give up on the dream of homeownership entirely. There are definitely other ways to get the money you need to buy a house. A bruised mortgage broker is a kind of professional that can help you access these opportunities.

What Is A Bruised Credit Mortgage Broker?

A bruised credit mortgage broker is a person who specializes in helping individuals with bruised credit obtain a mortgage.

They serve clients with flaws on their credit history who want a mortgage, whether they wish to purchase a house or refinance their mortgage and consolidate debts.

Having a bruised credit mortgage broker on your side is beneficial if you have defaults, judgements, a big number of credit inquiries, or if you have filed for previous bankruptcy — and here’s why:

What Are The Benefits Of Working With A Bruised Credit Mortgage Broker?

1. Professional Guidance

There are a lot of technical terms and procedures that go into a mortgage loan — more so one with a bruised credit score. 

A mortgage broker is a certified financial expert who coordinates between borrowers seeking mortgages and mortgage lenders. 

Their expertise in the real estate market and the home loan procedure will help them simplify the process of getting a loan with your bruised credit.

In fact, most Canadian residents were more satisfied with purchasing a home with brokers compared to those who used alternative channels.

2. They Understand Your Financial Background

Most banks will just look at your bruised credit history and call it a day. One of the best parts of working with a mortgage broker is that they learn about your overall financial situation. They use that information to evaluate your application. They outline the steps you need to take to realize your dream of homeownership and guide you through them.

bruised mortgage broker talking with client

3. Widening Your Mortgage Opportunities 

Another major perk of working with a mortgage broker is that they have connections to several financial institutions, particularly alternative lenders. If you have bruised credit, this might increase the variety of financing alternatives available to you.

4. They Advocate For You

Bruised credit mortgage brokers are on your side. They could advocate your best interests as a borrower by negotiating with lenders on your behalf and clarifying the circumstances behind your financial background.

Boost Your Chances Of Approval Regardless Of Your Circumstances

Premiere Mortgage Center prioritizes you. We’re experts in the niche mortgage market, and we’ve got great connections to lenders and a stellar record of helping individuals who once believed they had no shot at getting mortgages. 

Our company is partnered with the Canadian mortgage market’s best alternative lenders that provide programs to assist borrowers get back on their feet. 

Our team  is committed to providing you with a clear and judgment-free space to address your mortgage needs. Don’t allow your credit history — either past or current — prevent you from purchasing the home of your dreams. 

You may also be interested in:

Getting A Mortgage With Bruised Credit
Understanding your Credit Report
How Long After Bankruptcy Can I Get A Mortgage In Canada?