The number on its own says little. Lenders look at how recent your late payments are, whether any collection is still open, and how much of your available credit you actually use.
Get steady before you apply
Some things move in weeks, like bringing card utilisation under 30% or clearing a collection. Others need months of clean payments. Knowing which is which tells you when to apply.
Weigh the cost and the way out
If you end up with an alternative lender, the plan matters more than the rate. What does it cost, how long does it last, and what has to change before you can go back to a conventional lender?
Documents to gather
What the lender will ask for.
What you want to achieve
Income and documents
Debts and credit history
Property or collateral
Deadline
Lender choices
Frequently asked
Which documents should I gather?+
Your last two notices of assessment, recent pay stubs, an employment letter, three months of bank statements and proof of your down payment, plus a list of your debts with balances and monthly payments. Have them ready before you make an offer. That is what keeps a short financing window from turning into a scramble.
Current rates
Today’s rates, with the fine print.
These rates are indicative. Yours depends on your file, the type of mortgage (insured or not) and the lender. And look at the penalty too, it matters as much as the number.
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.
