First time home buyer with bad credit

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gogysh
Posts: 8
Joined: Wed Jun 04, 2008 4:54 pm

First time home buyer with bad credit

Postby gogysh » Wed Jun 04, 2008 4:57 pm

We want to buy a house and need a mortgage but my husband has bad credit. Do you think I will have any problems finding a lender?

spencer
Posts: 37
Joined: Thu May 29, 2008 8:46 pm

Re: First time home buyer with bad credit

Postby spencer » Thu Jun 05, 2008 2:30 pm

Yes, most likely you will have problems finding a lender. Getting credit is getting increasingly harder, and with the Canadian real estate market just starting to collapse chances are that you want qualify for mortgage. Which Canadian city are you planning to buy property in? Which bank do you bank with?

gogysh
Posts: 8
Joined: Wed Jun 04, 2008 4:54 pm

Re: First time home buyer with bad credit

Postby gogysh » Thu Jun 05, 2008 3:40 pm

I live in Calgary and I wanted to apply for mortgage with Canadian Western Bank or ATB Financial (Alberta Treasury)...

spencer
Posts: 37
Joined: Thu May 29, 2008 8:46 pm

Re: First time home buyer with bad credit

Postby spencer » Fri Jun 06, 2008 6:47 pm

I don't know if either of the 2 banks you mentioned deal with subprime borrowers, but you can give it a try. Give them a call and see where it goes.


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