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Got Turned Down For a Mortgage?

Buying a house is a big deal, and is most likely the biggest investment you’ll ever make in your lifetime. As such, you’ll most likely need assistance in making this large purchase by getting a mortgage. However, you may find that getting approved for a mortgage has proved to be very challenging, especially if you have bad credit.

If you’ve been declined for a mortgage because of your poor credit history, you may need to consider alternatives to conventional big lenders such as banks and credit unions who usually have very stringent stipulations and criteria for their borrowers. Luckily, there are lenders out there who deal specifically with bad credit mortgage situations in Alberta, Ontario and other Canadian provinces.

A bad credit mortgage is a mortgage that is given by a lender to a borrower with poor credit. While most banks and credit unions will most likely turn down borrowers with a poor financial history, a bad credit mortgage given in alternative situations can help borrowers get approved for a mortgage while improving their credit scores at the same time.

Get a Professional Mortgage Broker on Your Side

In order to find these lenders, it is necessary to have a professional and independent mortgage broker to help you. Mortgage brokers have a wide contact list of all different types of lenders who deal with a variety of types of mortgages and borrowers, including those with a bad credit history.

For many home buyer hopefuls, a bad credit mortgage Alberta may be the only option and hope of getting approved for a mortgage. When you work with an independent mortgage broker, you’ll be maximizing your chances of getting the best rates possible, as well as a package with reasonable terms that you can work with.

Jim Black, AMP, is a professional independent mortgage broker who has helped countless home buyers in Alberta with poor credit get approved for a mortgage, even after they had originally been turned down by other major lenders. Jim and his award winning team at www.MortgageLoansAlberta.ca can help you too. Call their team today at (877) 394-9422 and let them help you get approved for a mortgage, while simultaneously improving your credit score! If you are in Ontario, call the experts at www.MortgageMedics.ca.  Award winning Claire Drage and her team of experts can help you in the Greater Toronto area or other parts of Ontario.  You can reach them at (289) 837-1518.