Bad Credit MortgageOntario. Approved Fast.From 5.09%. Credit from 500.

Yes. Bad credit does not disqualify you. B-lenders (Equitable Bank, Home Trust, Bridgewater) approve borrowers with credit scores from 500. 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 20–35% 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 12 months after a bankruptcy discharge with sufficient equity (25–35% down). B-lenders typically require 2 years post-discharge with rebuilt credit. A-lenders typically require 3–6 years with clean credit history. lendsimpl gives you an honest assessment based on your exact discharge date.

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

B-lender rates start from 6.49% for credit scores 500+. Private 1st mortgages run 8.99–14%. Private 2nd mortgages start from 10.99%. All rates depend on credit profile, property equity, location, and term length. lendsimpl shops 50+ lenders to find your lowest available rate.

Not immediately. Ontario lenders typically begin power-of-sale proceedings after 3+ missed payments and a 35–45 day formal notice (Ontario's Mortgages Act). If you're in arrears, contact lendsimpl immediately at (416) 299-6096 — a private mortgage refinance can pay off arrears and stop power-of-sale, often funded within 3–5 business days.

Usually no. Many borrowers declined by banks qualify for B-lenders at much lower rates (6–8%) than private (9–14%). lendsimpl always recommends the lowest-rate option that fits your file. 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: 24–72 hours conditional, 7–14 days to fund. Private lender approval: same day to 48 hours commitment, 3–10 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 12–24 month credit rebuilding roadmap. At renewal, the goal is always to graduate from B-lender or private into an A-lender prime rate. We work the renewal 90 days before your term ends.