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Poor Credit Mortgages & Second Mortgages in Kitchener

If you are interested in obtaining a private home loan in Kitchener, you have come to the right place. When traditional lenders and banks turn you down, a private lender can help you secure the funding you need. Your credit score is not the only defining factor in determining your ability to repay a loan.

How to Get Poor Credit Mortgages in Kitchener

When you go inside a traditional bank and apply for a mortgage, the first thing that bank will check is your credit. This numerical score ultimately determines the risk the bank will assume in providing you with the funds. If that number is too low, you will not receive approval. Private home loans in Kitchener are a bit different. These lenders consider other factors, and they never let a simple number define you. Things like your employment history, your income, and your overall ability to repay the loan on time every month are just as important as your credit score.

Obtaining a Second Mortgage

A second mortgage, when used responsibly, is a great way to consolidate debt and lower monthly payments. It is also a phenomenal tool for improving your credit score. However, because most banks require an excellent credit score to receive a second mortgage in Kitchener, you may feel trapped in a vicious cycle of debt. A private loan is the answer to this situation, and as long as you have some equity in your home (meaning the value of your home is more than the amount you owe on your first mortgage), you can get the funds you need.

Whether you and your family want to buy your dream home or you need to consolidate your high-interest debt, private home loans in Kitchener provide you with those opportunities. Finding out whether you qualify is simple, and you can receive a preliminary decision in just a few hours.