A number by itself doesn’t say much. Lenders check how recent your late payments are, whether a collection is still open, and how much of your credit limit you’re using.
Clean up, then apply
Some things move fast: getting card balances under 30%, paying off a collection. Others need months of on-time payments. Know which is which before you send anything in.
If you go alternative, price the exit
With an alternative lender, the rate is not the main question. What does it cost, how long are you stuck, and what has to change before a regular lender takes you back?
Documents to gather
What the lender will ask for.
What you want the mortgage to do
Income and supporting papers
Debts and credit report
Property or collateral
When you need to close
Which lenders are in play
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. Ready before the offer, they keep a five-day financing condition realistic. Chased after the offer, they eat up weeks.
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.
