Region served
After a bankruptcy or a proposal, a lender looks at two things on a Gaspésie-Îles-de-la-Madeleine file: the discharge date and what you have rebuilt since.
The score matters less than what sits behind it. The lender wants to know how long ago the item was settled, whether your credit has recovered since, and whether the file stands without that line. A proposal or bankruptcy discharged two years ago with rebuilt credit is not treated like last month’s late payment.
Your full credit report, discharge or release papers for anything settled, proof of payment for what remains. Add your notices of assessment and proof of your down payment. The stronger the down payment, the more negotiable everything else gets.
You’ll need two years of notices of assessment, recent pay stubs and an employment letter. Tax records rule. Cash deposits that never appear on a return don’t count, whatever you’re buying.
Depending on where the income comes from, the lender may use this year’s figure, a two-year average, or just a confirmation of employment.
Bring the notices of assessment, returns, financial statements, pay stubs and deposit records, and have all of it before the offer. When a financing condition is tight, it’s a third party’s missing paper that sinks it.
The lender looks at how long ago the incident happened and what you’ve rebuilt since. Alternative lenders accept sooner, at a higher rate, while you work back toward bank financing.
To prepare
Yes. It all runs by phone, email or video call, and documents go through online. We can meet in person, but most files get settled without anyone having to travel.
Often two years after discharge, with credit rebuilt and paid on time since. Some lenders say yes sooner if the down payment is bigger. What you have rebuilt counts, not just the time that has passed.
Pick the situation closest to yours.
Contact
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.