Sometimes things happen in our lives that affect us financially, and the result can be an inability to keep up with payments and expenses. As such, credit scores are affected negatively and sometimes severely. If this has happened to you, there is still a good possibility of attaining a mortgage from an alternative lender. Specifically, alternative lenders address the following situations:
- Poor credit
- Little or no established credit
- Previous bankruptcy
- In consumer proposal
- In credit counselling
- Recently self employed and can't verify their income
- Foreigners investing in Canadian real estate
Mortgages can be provided to individuals in these situations but usually carry certain guidelines:
For example, in most cases at least 15% must be placed down on the property. In tough credit situations, the down payment is the most important lending criteria of the mortgage. In line with this, the mortgage lender will likely require a more thorough property inspection to ensure that the asset will hold (or increase) its value. Also, the larger the down payment, the more flexible lenders become regarding the rate.
In many cases I work with clients, so that once the mortgage comes up for renewal, your credit score will be high enough to enter into a lowest rate mortgage.
Alternatively, I can work with you over time to help improve your credit score before entering into any mortgage, and apply for a lowest market rate mortgage in time.
Contact me for a discussion on how I can best serve you. No matter what your financial situation, your satisfaction is my promise.
www.brentrichardson.ca - brent@brentrichardson.ca
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We will cover Autodesk Navisworks Simulate in an article very soon. You are correct, the Simulate version also has the TimeLiner feature functionality and Clash is what's unique to Autodesk Navisworks Manage (from what I understand). Said that, I apologize if my article should have indicated otherwise.
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