Mortgage Broker Cambridge
What do you do if you need a mortgage but have less than impressive credit? What if you are self-employed and have a variable income? Can you still get a mortgage if your income relies on commission? These are questions we are often asked. As a mortgage lender, Expert Mortgage knows all too well that some people will be turned down when applying for a mortgage. For the most part, the people being turned down are good upstanding Canadians who just want to own their own home but have reached an impasse because of credit mistakes from their past or their current employment situation. If you’re one of these people, you can still get a home loan in the form of a subprime mortgage. If you are looking for a mortgage broker in the Cambridge area, we encourage you to continue reading this article.
What is a subprime mortgage?
A subprime mortgage is a loan that is reserved for people with poor credit that have been turned down by their bank/mortgage broker. If you have poor credit but can still make your monthly mortgage payments, there’s no reason why you shouldn’t be able to refinance your home. Subprime mortgages are also available to those who have trouble proving their income because they work on commission or receive bonuses of varying amounts. These mortgages do require you to make a 20% down payment on your property. However, our mortgage brokers in Cambridge will tell you that making a down payment of less than 20% isn’t always the best option.
How can Expert Mortgage help you obtain a mortgage?
If you have bad credit, no credit, or you are self employed, Expert Mortgage is the right mortgage broker for you in Cambridge! Your financial state should not mean that you can’t get a mortgage for the house of your dreams. With Expert Mortgage on your side, we can get you on the path to financial freedom through various strategies that are meant to get you out of debt and improve your credit. Debt consolidation and a refinance are a few of these strategies. Once we get your credit under control, we can then assist you with finding the best possible mortgage with our connections.
When you are in need of a mortgage broker in Cambridge that can help you find a subprime mortgage, Expert Mortgage is the place for you. For more information about our services , please feel free to continue browsing through our website. Click here to find our contact information and to fill out our contact form.