Buying a home
Review your down payment, income, debts and target price before relying on a financing amount. A purchase also needs room for closing costs and ongoing ownership expenses.
Explore residential mortgagesTORONTO · MISSISSAUGA · THE GTA
Bruised Credit
Mortgages in the GTA
Your circumstances deserve a closer look.
Credit concerns complicating your mortgage? Explore options for buying or refinancing in Toronto, Mississauga and the GTA with The Mortgage Providers.
Start with your goals, your timeline and what has changed.
Toronto officeServing borrowers across the GTA
Established in 1997Mortgage brokerage experience
Brokerage licence 10533Residential & commercial financing
BRUISED, POOR OR BAD CREDIT
More context.
A clearer review.
“Bruised credit” describes a credit history affected by issues such as missed payments or high balances. It is not a separate mortgage product or a promise of eligibility.
The Mortgage Providers works with borrowers in Toronto, Mississauga and across the GTA to explore mortgage options when credit concerns make an application more complicated. The brokerage has access to lenders beyond traditional banks, including alternative and private funding sources.
Explain what happened, what has changed and what you need the mortgage to accomplish. That context helps shape the review, alongside the documents a lender requires.
WHAT ARE YOU PLANNING?
Start with
your next step.
Your reason for borrowing helps determine which questions to ask first.
Refinancing a property
Bring your current mortgage details and explain the purpose of the new borrowing. Compare total costs and future payments, including any charges to replace the existing mortgage.
Explore first and second mortgagesPreparing for later
If your timing is flexible, discuss what needs attention before applying. Correcting report errors and bringing balances into a manageable plan may be useful starting points.
Explore credit repair guidanceA PRACTICAL MORTGAGE REVIEW
Explain the past.
Plan what comes next.
A credit score is one part of the application. A detailed review also needs the current facts and a sustainable budget.
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Share your circumstances
Explain the credit concerns, your mortgage goal and timing. Include any recent changes to employment, income or household commitments.
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Gather the supporting details
Provide income information, debts, down payment or equity details and the property address. Discuss when a credit check is needed and how to submit documents securely.
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Compare the proposed terms
Ask about the lender, rate, payment structure, fees and outstanding conditions. Understand why an option is being recommended for your situation.
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Choose a realistic next step
Confirm whether to proceed, gather more information or allow time to improve your position. For short-term borrowing, document the intended repayment route and a backup plan.
BEFORE YOUR CONVERSATION
Bring the details
that matter.
- Your purchase, refinance or renewal goal
- Current income and employment or business information
- Debt balances and required monthly payments
- Your down payment source or existing mortgage balances
- Property details and the financing deadline
- Information about collections or missed payments
- Proposal completion or bankruptcy discharge documents, if relevant
You can start with a general enquiry. The team can explain which documents are needed for your circumstances.
UNDERSTAND THE TRADE-OFFS
Compare costs.
Look ahead.
Alternative or private financing may carry higher rates and fees. Ask for the full cost, including lender and brokerage charges, legal work and an appraisal where required.
Private mortgages are generally short-term options. Interest-only payments do not reduce the principal you owe. A future refinance is not guaranteed, so ask how the balance will be repaid if your circumstances do not improve as expected.
TORONTO · MISSISSAUGA · GTA
Local property.
Personal circumstances.
For a Toronto condo, include the condo fees in your budget. For a Mississauga townhouse or detached home, bring the actual property taxes and expected ownership costs. Use the property’s numbers when reviewing affordability.
We welcome enquiries across Toronto, Peel, York, Halton and Durham, including Brampton, Vaughan, Markham, Richmond Hill, Oakville and Burlington.
Already behind on payments? See our mortgage and property tax arrears page.
YOUR QUESTIONS
Bruised credit
mortgage FAQs.
Answers about eligibility, credit reports and comparing options.
Can I get a mortgage with bruised or bad credit?
It may be possible. Lenders review your credit history alongside the property, income, debts and down payment or equity. The Mortgage Providers can explore available options, but approval and terms depend on the full application and lender requirements.
What credit score do I need?
There is no single minimum score that applies to every mortgage lender and product. Recent missed payments, outstanding collections and the rest of your finances also matter. Ask which requirements apply to the specific option being considered.
Does checking my own credit report lower my score?
No. Requesting your own credit report is a soft inquiry and does not affect your score. A lender’s mortgage application credit check may be a hard inquiry, which can affect it. Ask how and when a credit check will be completed.
Will I need a larger down payment?
You may. A lender may require more equity or a larger down payment depending on the product, property and credit history. There is no single percentage for every bruised-credit application. Keep closing costs separate from the funds you plan to use for the down payment.
Are alternative and private mortgages the same?
The labels are sometimes used broadly, so ask who the lender is and how the proposed mortgage works. Compare the actual rate, fees, payment structure and term. Private mortgages are generally intended as short-term financing and need a realistic repayment or exit plan.
Can I apply after a consumer proposal or bankruptcy?
You can discuss your circumstances with the brokerage. Provide the status, relevant dates and completion or discharge documents, if applicable. Eligibility depends on lender rules and the rest of your application; completion or discharge does not automatically qualify you for a mortgage.
Will a new mortgage repair my credit?
A new mortgage does not erase accurate negative information or guarantee a higher score. Keeping payments current and managing borrowing responsibly can support your credit history over time. If you find an error, dispute it with the credit bureau and the organization that reported it.
Should I apply now or work on my credit first?
That depends on your housing needs, timeline, budget and available terms. Compare proceeding now with allowing time to address debts or credit-report issues. If the proposed mortgage is not affordable or the repayment plan is uncertain, waiting may be the more workable choice.
LET’S REVIEW THE POSSIBILITIES
Start with your situation.
Tell us what you want to do next.
We’ll discuss what a mortgage review would need.
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