Credit history
Mortgage Options When Your Credit History Is Imperfect
Missed payments, collections, a consumer proposal, or a past bankruptcy do not automatically end the conversation. They change which lenders may consider the file.
Takes about two minutes. No obligation. No judgment.
Licensed in Ontario
Phil Cragg, Mortgage Agent, Licence #11000073 · Mortgage Outlet Inc., Brokerage #12628
Confidential by design
No credit check to start, and no documents requested through this website.
15 years, across Ontario
Office in Toronto. Clients across the province served by phone, video, and secure document handling.
What this actually means
Lenders do not only look at a credit score. They look at what happened, when it happened, how large it was, whether it was resolved, and what your payment behaviour has looked like since.
Two people with the same score can receive very different answers. Recent activity generally carries more weight than older activity, and housing-related payments generally carry more weight than everything else.
Where credit is the main obstacle, the honest options are usually a lender category that weighs equity more heavily, or a defined period of rebuilding before applying again.
Situations we see most often
- A period of illness, job loss, or separation left marks on your credit.
- You completed a consumer proposal and are not sure how long lenders will look back.
- There are collections on your report you believe are errors.
- Your score recovered but the history behind it still concerns lenders.
- You have been told to "come back in two years" without any explanation.
Possible pathways and their trade-offs
Alternative lender review
Alternative lenders may consider credit events that fall outside traditional guidelines, with more weight placed on equity, property, and demonstrated income.
Trade-off: Higher rates and fees than prime lending, and typically a larger down payment or more equity required.
Credit correction first
Reporting errors, unresolved collections, and high revolving balances can sometimes be addressed in a matter of weeks with measurable effect.
Trade-off: Requires time and documentation. Results vary and cannot be promised.
Structured rebuilding period
A defined plan of on-time payments and reduced balances, with a reassessment date, can materially change the options available later.
Trade-off: Delays financing, and no future outcome can be guaranteed.
Documents usually involved
Nothing is uploaded through this website. Documents are only requested later, through an approved secure process.
- Consumer proposal or bankruptcy discharge documents, if applicable
- Proof of resolution for any collections or judgments
- Recent proof of income
- Twelve months of housing payment history, where available
- Current debt balances and minimum payments
Costs and compensation
Before you go further
Questions about this situation
Is there a minimum credit score to speak with a broker?
No. A conversation costs nothing and does not require a credit pull. Score is one input among several, and it is not always the deciding one.
How long after a consumer proposal can I apply?
It depends on the lender category, whether the proposal is paid in full or still active, how credit has been re-established since, and the equity position. There is no single universal waiting period, and anyone quoting one without seeing your file is guessing.
Will you tell me my situation is hopeless if it is?
Yes. An honest "not right now, and here is why" is more useful than an application that costs you an inquiry and ends the same way.
Related situations
Declined Mortgage Applications
Understand why an application was declined and which other lender categories may still consider your situation.
Debt Consolidation and Equity Take-Out
Review whether consolidating high-interest debt into your mortgage genuinely improves your position.
Alternative Mortgage Solutions
How alternative lenders assess files differently from banks, and what that flexibility actually costs.
Information on this website is general in nature and is not a commitment to lend, an approval, legal advice, tax advice, or financial advice. Mortgage availability, rates, terms, fees, and approval depend on the applicant, the property, lender requirements, market conditions, and applicable law. An application and supporting documents may be required.