Mortgage after bankruptcy for a property in Québec
Often two years after discharge, with rebuilt credit, a Québec file becomes financeable again. Some lenders will accept sooner with a bigger down payment.
The score matters least. What counts is what’s behind it: how long ago the item was settled, whether your credit has recovered, whether the file holds up without that line. A proposal or bankruptcy discharged two years ago, with rebuilt credit, isn’t treated like a late payment from last month.
Documents before comparison
Your full credit report, discharge or release papers for anything settled, and proof of payment for what’s left. Add your notices of assessment and proof of your down payment. The stronger the down payment, the more the rest becomes negotiable.
Property and price
Your offer is only as good as the recent sales behind it. When there aren’t many comparables in Québec, the appraisal can come in under your price. You cover that gap in cash. The mortgage won’t.
Income and down payment in Québec
Your income proof, the source of your down payment, your debts and the monthly budget you can carry: the file in Québec starts there.
Conditions compared
Everybody compares rates because it’s easy. On a purchase, the real differences sit elsewhere: the penalty if you break the term, how much you can prepay each year, and whether the mortgage can follow you to your next home.
Documents before submission
Get the file complete the first time and you save weeks. In Québec like everywhere else, it’s almost never the analysis that slows things down. It’s the employer who doesn’t call back, the bank that sits on it, the appraiser who’s running late.
To prepare
What to gather.
Borrower profile
Income records
Credit history
Available funds
Property or project
Lender eligibility
Frequently asked
Can the file be reviewed remotely?+
Yes. Phone, email or video call, with documents sent online. We can meet in person if you’d rather, but most files get done without anyone driving anywhere.
How long before a bankruptcy stops blocking a file?+
Often two years after discharge, with credit rebuilt and paid on time since. Some lenders accept sooner if the down payment is bigger. What counts is what you’ve rebuilt. Time passing, by itself, isn’t enough.
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.
