Bad Credit Mortgage Ontario. Approved Fast.

Yes. Bad credit does not disqualify you. B-lenders (Equitable Bank, Home Trust, Bridgewater) typically work with scores from around 500, and sometimes lower with a strong explanation and solid income. Private lenders have no minimum credit score, they lend based on property equity. lendsimpl (FSRA #13763) matches your file to the right lender tier.

Yes. During an active consumer proposal, private lenders can fund equity-based mortgages (typically 20 to 35% down). Once the proposal is completed with 12+ months of clean payment history, B-lenders may consider you. At 2+ years post-completion with rebuilt credit, A-lender rates become possible.

Private lenders can fund as soon as your discharge, sometimes within days, since they lend against equity rather than credit history (25 to 35% down). B-lenders often become an option well before the two-year mark, as your credit starts to rebuild. A-lenders and CMHC-insured mortgages typically require 2 years post-discharge with re-established credit, that's the industry standard. lendsimpl gives you an honest assessment based on your exact discharge date.

A-lenders require 680+. B-lenders work with 500 to 679. Private lenders have no minimum, approval is purely based on property equity (typically requiring 20 to 35% down). lendsimpl matches your score to the right lender tier without unnecessary credit pulls.

Pricing depends on your credit, income type, property, and loan-to-value. For current B-lender and private rate ranges, see our alternative mortgage rates and private mortgage rates pages.

Not immediately. After a Notice of Sale, a lender generally has to allow a notice period before the property can be sold, so there is usually real time to act, and your lawyer can confirm your exact timeline. If you're in arrears, contact lendsimpl right away at (416) 299-6096. A private mortgage refinance can pay off arrears and stop the sale. Your timeline depends on your file and documentation.

Usually no. Many borrowers declined by banks qualify for a B-lender at meaningfully lower rates than private financing. lendsimpl recommends the most competitive option that fits your file, and private is only suggested when B-lender programs genuinely won't work.

B-lenders typically require: photo ID, last 2 years T1/NOA, last 2 pay stubs or employment letter, 90 days bank statements, property appraisal. Private lenders typically need: ID, property details (address, value, existing liens), basic income summary, and proof of down payment or equity. We confirm the exact list before you gather anything.

B-lender approval: 24 to 72 hours conditional, 7 to 14 days to fund. Private lender approval: same day to 48 hours commitment, 3 to 10 business days to fund. Emergency power-of-sale rescues have been funded in as few as 3 business days. Call (416) 299-6096 for a realistic timeline based on your file.

Yes. And we plan for it from day one. Every bad credit client gets a 12 to 24 month credit rebuilding roadmap. At renewal, the goal is to graduate from B-lender or private into the most competitive A-lender rate your file qualifies for. We work the renewal 90 days before your term ends.